FTV pops to highest close since April 5th


Fortive Corp (FTV) Technical Analysis Report for May 17, 2018 [< 1 min read]
Highlights
FTV closes higher for the 2nd day in a row
FTV ends the day on a bullish note closing near the high of the day
FTV pushes through previous session high
FTV rises to highest close since April 5th
TQ Sentiment
Report Sentiment: 50% Bullish
Technical Forecast:
Overview

Moving higher for the 2nd day in a row, FTV finished Thursday at 77.35 gaining $0.57 (0.74%). Today's closing price of 77.35 marks the highest close since April 5th. Closing above Wednesday's high at 76.91, the share confirms its breakout through the previous session's high having traded $0.58 above it intraday. Ending with a strong close near the high of the day sets a bullish note for the next session.

Daily chart for FTV
Volatility

Thursday's trading range was $1.09 (1.42%), that's slightly below last trading month's daily average range of $1.40. Things look different on a weekly scale, where volatility is way below the markets average with the monthly volatility being slightly above average.

Trend

The stock shows strength in the short-term supported by its long-term uptrend with only the medium-term trend being bearish.

Order Flow

Further buying might move prices higher should the market test April's nearby high at 78.08.

Conclusion

While classical technical analysis indicates a neutral sentiment for the next trading day, our quantitative statistics show a different picture being very bullish.

Market Conditions for Fortive Corp
Condition Forecast Direction Win Avg Worst Best Events
Bullish Engulfing Candle TQ Pro Members Only
Close to R1 Resistance TQ Pro Members Only
White Candle TQ Pro Members Only
Low close to previous low TQ Pro Members Only
Close to Swing High TQ Pro Members Only
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