FTV pops to highest close since April 5th
Fortive Corp (FTV) Technical Analysis Report for May 17, 2018 | by Techniquant Editorial Team
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 Candlestick Chart (FTV as at May 17, 2018):
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.
The stock shows strength in the short-term supported by its long-term uptrend with only the medium-term trend being bearish.
Further buying might move prices higher should the market test April's nearby high at 78.08.