HRS ends the day indecisive
Harris Corporation (HRS) Technical Analysis Report for May 17, 2018 | by Techniquant Editorial Team
Moving lower for the 5th day in a row, HRS ended Thursday at 152.84 losing $0.86 (-0.56%). Today's closing price of 152.84 marks the lowest close since May 7th. Closing below Wednesday's low at 153.62, the share confirms its breakout through the previous session's low having traded $1.65 below it intraday. Ending the day with an indecisive close, neither buyers nor sellers were able to gain control during the session.
Daily Candlestick Chart (HRS as at May 17, 2018):
Thursday's trading range was $1.48 (0.97%), that's below last trading month's daily average range of $3.55. Things look different on a weekly scale, where volatility is way below the markets average with the monthly volatility being way above average.
Harris Corporation shows strength in the short-term supported by its long-term uptrend with only the medium-term trend being bearish.
Buying might accelerate should prices move above the nearby swing high at 155.80 where further buy stops could get triggered. As prices are trading close to May's high at 157.54, upside momentum might speed up should the stock mark new highs for the month.