GWW finds buyers around 353.61 for the third day in a row

Grainger (W.W.) Inc. (GWW) Technical Analysis Report for Sep 14, 2018

Highlights

GWW finds buyers around 353.61 for the third day in a row
GWW fails to close above 20-day moving average
GWW closes within previous day's range
GWW ends the day indecisive

TQ Sentiment

Report Sentiment: 0% Neutral
Technical Forecast:

Overview

GWW finished the week 1.81% higher at 355.61 after gaining $1.57 (0.44%) today. Closing within the previous day's range, prices failed to decisively move past the prior day's trading range. Ending the day with an indecisive close, neither buyers nor sellers were able to gain control during the session.

Daily chart for GWW

Volatility

Friday's trading range was $7.93 (2.23%), that's slightly above last trading month's daily average range of $6.65. 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

The share found buyers again today around 353.61 for the third trading day in a row after having found demand at 352.81 in the previous session and at 353.40 two days ago. After spiking up to 361.54 during the day, Grainger (W. W.) found resistance at the 20-day moving average at 358.91.

Trend

The trend is clearly bullish, showing an intact uptrend in the short, medium and long-term.

Order Flow

Selling might speed up should prices move below the nearby swing low at 352.81 where further sell stops could get triggered.

Conclusion

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

Market Conditions for Grainger (W.W.) Inc.

Condition Forecast Direction Win Rate Exit Day Events
Closed below last periods low TQ Pro Members Only
Bearish Engulfing Candle TQ Pro Members Only
Close to S1 Support TQ Pro Members Only
Black Candle TQ Pro Members Only
Last Engulfing Bottom Pattern TQ Pro Members Only
More market conditions identified for TQ Pro members...
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