GWRE rises to highest close since Inception
Guidewire Software Inc. (GWRE) Technical Analysis Report for Aug 10, 2018 | by Techniquant Editorial Team
Moving higher for the 9th day in a row, GWRE finished the week 7.87% higher at 96.06 after gaining $1.66 (1.76%) today. Today's closing price of 96.06 marks the highest close since Inception. The bulls were in full control today, moving the market higher throughout the whole session. Closing above Thursday's high at 95.50, the stock confirms its breakout through the previous session's high having traded $1.16 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 (GWRE as at Aug 10, 2018):
Friday's trading range was $3.47 (3.71%), that's far above last trading month's daily average range of $2.23. Weekly volatility is also higher, being way above the markets average with the monthly volatility being above average.
In a volatile session, prices traded above the prior day's high as well as below the previous day's low, forming a bullish Outside Bar.
Breaking through the key resistance level at 95.88 today, it is now likely to act as support going forward. After having been unable to move lower than 93.52 in the prior session, the share found buyers again around the same price level today at 93.19.
The trend is clearly bullish, showing an intact uptrend in the short, medium and long-term.