HRS pops to highest close since August 21st

Harris Corporation (HRS) Technical Analysis Report for Sep 14, 2018

Highlights

HRS closes higher for the 5th day in a row
HRS ends the day on a bullish note closing near the high of the day
HRS pushes through previous session high
HRS rises to highest close since August 21st

TQ Sentiment

Report Sentiment: 40% Bullish
Technical Forecast:

Overview

Moving higher for the 5th day in a row, HRS finished the week 2.83% higher at 164.72 after gaining $1.25 (0.76%) today. Today's closing price of 164.72 marks the highest close since August 21st. Closing above Thursday's high at 163.60, the stock confirms its breakout through the previous session's high having traded $1.48 above it intraday. Ending with a strong close near the high of the day sets a bullish note for the next session.

Daily chart for HRS

Volatility

Friday's trading range was $1.84 (1.12%), that's slightly below last trading month's daily average range of $1.90. Things look different on a weekly scale, where volatility is slightly above the markets average with the monthly volatility being below average.

Support/Resistance

Prices are trading close to the key resistance level at 165.64.

Trend

Though still in a long-term downtrend, the short and medium-term trends both turned bullish already.

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 Harris Corporation

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