GPC pushes through 200-day moving average

Genuine Parts (GPC) Technical Analysis Report for Jul 13, 2018

Highlights

GPC pushes through 200-day moving average
GPC unable to break through key resistance level
GPC closes higher for the 2nd day in a row
GPC pushes through previous session high

TQ Sentiment

Report Sentiment:
50% Bullish
Technical Forecast:

Overview

Moving higher for the 2nd day in a row, GPC finished the week 2.77% higher at 93.25 after gaining $0.83 (0.9%) today. Closing above Thursday's high at 92.98, the share confirms its breakout through the prior session's high having traded $0.69 above it intraday.

Daily chart for GPC

Volatility

Friday's trading range was $1.07 (1.16%), that's slightly below last trading month's daily average range of $1.23. Things look different on a weekly scale, where volatility is slightly below the markets average with the monthly volatility being slightly below average.

Support/Resistance

Unable to break through the key technical resistance level at 93.42, the stock closed below it after spiking as high as 93.67 during the day. The failure to close above the resistance might increase that levels importance as resistance going forward.

Trend

Although still in a long-term downtrend, the short and medium-term trends both turned bullish already. Genuine Parts managed to break above the 200-day moving average at 93.01 today for the first time since July 10th.

Conclusion

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

Market Conditions for Genuine Parts

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