HRS ends the day on a bearish note closing near the low of the day
Harris Corporation (HRS) Technical Analysis Report for Aug 10, 2018 | by Techniquant Editorial Team
HRS finished the week 0.54% higher at 163.26 after losing $1.31 (-0.8%) today. Trading $0.60 higher after the open, the market was unable to hold its gains as the bears took control ending the day below its opening price. Closing below Thursday's low at 163.89, the stock confirms its breakout through the previous session's low having traded $0.89 below it intraday. Ending with a weak close near the low of the day sets a bearish note for the next session.
Daily Candlestick Chart (HRS as at Aug 10, 2018):
Friday's trading range was $1.64 (1.0%), that's below last trading month's daily average range of $3.20. Things look different on a weekly scale, where volatility is below the markets average with the monthly volatility being above average.
The trend is clearly bullish, showing an intact uptrend in the short, medium and long-term.
Buying might accelerate should prices move above the nearby swing high at 165.64 where further buy stops could get triggered. Selling might speed up should prices move below the close-by swing low at 160.40 where further sell stops could get activated.