GWW closes above its opening price after recovering from early selling pressure
W.W. Grainger Inc. (GWW) Technical Analysis Report for Aug 10, 2018 | by Techniquant Editorial Team
Moving lower for the 2nd day in a row, GWW finished the week 3.63% higher at 351.30 after losing $0.36 (-0.1%) today. Trading up to $2.29 lower after the open, the share managed to reverse during the session as bulls took control ending the day above its opening price. Closing within the prior day's range, prices failed to decisively move beyond the previous day's trading range in a lackluster session.
Daily Candlestick Chart (GWW as at Aug 10, 2018):
Friday's trading range was $5.30 (1.52%), that's below last trading month's daily average range of $8.00. Things look different on a weekly scale, where volatility is slightly below the markets average with the monthly volatility being slightly above average.
The trend is clearly bullish, showing an intact uptrend in the short, medium and long-term.
Buying could accelerate should prices move above the close-by swing high at 358.63 where further buy stops might get triggered.