HRS ends the day on a bullish note closing near the high of the day
Harris Corporation (HRS) Technical Analysis Report for Apr 16, 2018
HRS ended Monday at 165.18 surging $3.49 (2.16%) on low volume. This is the biggest single day gain in over three weeks. Today's closing price of 165.18 marks the highest close since Inception. Closing above Friday's high at 163.51, the stock confirms its breakout through the prior session's high having traded $1.92 above it intraday. Ending with a strong close near the high of the day sets a bullish note for the next session.
Monday's trading range was $3.09 (1.89%), that's slightly below last trading month's daily average range of $3.46. Things look different on a weekly scale, where volatility is below the markets average with the monthly volatility being slightly below average.
Breaking through the key resistance level at 163.93 today, it is now likely to act as support going forward.
The trend is clearly bullish, showing an intact uptrend in the short, medium and long-term.
While classical technical analysis indicates a bullish sentiment for the next trading day, our quantitative statistics show a different picture being bearish.
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