GWW rises to highest close since Inception


Technical Analysis Report for GWW - May 17, 2018 [< 1 min read]
Highlights
GWW closes higher for the 3rd day in a row
GWW rises to highest close since Inception
GWW closes within previous day's range after lackluster session
TQ Sentiment
Technical Forecast:
Overview

Moving higher for the 3rd day in a row, GWW ended Thursday at 306.80 edging higher $0.43 (0.14%). Today's closing price of 306.80 marks the highest close since Inception. Closing within the previous day's range, prices failed to decisively move beyond the prior day's trading range in a lackluster session.

Daily chart for GWW
Volatility

Thursday's trading range was $4.65 (1.53%), that's below last trading month's daily average range of $7.92. 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

Prices are trading close to a key support level at 302.81. Prices are trading close to the key resistance level at 309.80.

Trend

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

Order Flow

With prices trading close to this year's high at 309.80, upside momentum might speed up should the share be able to break out to new highs for the year.

Conclusion

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

Report Market Conditions
ConditionForecastDirectionWinAvgWorstBest
Close to R1 Resistance TQ Pro Members Only
Close to S1 Support TQ Pro Members Only
3 Consecutive Higher Closes TQ Pro Members Only
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