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MSI pushes through previous session high


Technical Analysis Report for MSI - Apr 16, 2018 [< 1 min read]
Highlights
MSI pushes through key resistance level
MSI closes above its opening price after recovering from early selling pressure
MSI pushes through previous session high
MSI rises to highest close since March 21st
TQ Sentiment
Technical Forecast:
Overview

MSI ended Monday at 108.92 gaining $1.23 (1.14%) on low volume. Today's closing price of 108.92 marks the highest close since March 21st. Trading up to $1.04 lower after the open, the market managed to reverse during the session as bulls took control ending the day above its opening price. Closing above Friday's high at 108.58, the share confirms its breakout through the prior session's high having traded $0.88 above it intraday.

Daily chart for MSI
Volatility

Monday's trading range was $2.55 (2.36%), that's above last trading month's daily average range of $1.90. Things look different on a weekly scale, where volatility is slightly below the markets average with the monthly volatility being slightly above average.

Price Action

In a volatile session, prices traded above the previous day's high as well as below the prior day's low, forming a bullish Outside Bar.

Support/Resistance

Breaking through the key resistance level at 108.52 today, it is now likely to act as support 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 109.83, upside momentum might speed up should the stock be able to break out to new highs for the year.

Conclusion

Both sentiments, the classical technical analysis and our quantitative statistics are in perfect alignment today showing a bullish sentiment for the next trading day.

Report Market Conditions
ConditionForecastDirectionWinAvgWorstBest
Price broke through Technical Resistance R1 TQ Pro Members Only
Closed above last periods high TQ Pro Members Only
Bullish Intraday Reversal TQ Pro Members Only
Bullish Outside Bar TQ Pro Members Only
More market conditions identified for TQ Pro members...
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