IDXX closes lower for the 2nd day in a row


IDEXX Laboratories (IDXX) Technical Analysis Report for Aug 10, 2018 [< 1 min read]
Highlights
IDXX unable to break through key resistance level
IDXX closes lower for the 2nd day in a row
IDXX breaks below previous session low
IDXX ends the day indecisive
TQ Sentiment
Report Sentiment: 50% Bearish
Technical Forecast:
Overview

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 chart for IDXX
Volatility

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.

Support/Resistance

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.

Trend

The trend is clearly bullish, showing an intact uptrend in the short, medium and long-term.

Order Flow

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.

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 IDEXX Laboratories
Condition Forecast Direction Win Avg Worst Best Events
Southern Doji TQ Pro Members Only
Close to R1 Resistance TQ Pro Members Only
Close to S1 Support TQ Pro Members Only
Doji TQ Pro Members Only
Bullish Intraday Reversal TQ Pro Members Only
More market conditions identified for TQ Pro members...
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