IDXX closes lower for the 2nd day in a row
IDEXX Laboratories Inc. (IDXX) Technical Analysis Report for Aug 10, 2018 | by Techniquant Editorial Team
Moving lower for the 2nd day in a row, IDXX ended the week 0.36% higher at 243.52 after losing $1.11 (-0.45%) today on low volume. Closing below Thursday's low at 244.27, the market confirms its breakout through the previous session's low having traded $2.23 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 (IDXX as at Aug 10, 2018):
Friday's trading range was $3.79 (1.56%), that's below last trading month's daily average range of $5.77. Things look different on a weekly scale, where volatility is way below the markets average with the monthly volatility being below average.
Unable to break through the key technical resistance level at 245.25, the share closed below it after spiking as high as 245.83 during the day. The failure to close above the resistance might increase that levels importance as resistance going forward.
The trend is clearly bullish, showing an intact uptrend in the short, medium and long-term.
With prices trading close to this year's high at 252.49, upside momentum could speed up should the stock be able to break out to new highs for the year.