MSI pushes through previous session high
Motorola Solutions Inc. (MSI) Technical Analysis Report for Apr 16, 2018 | by Techniquant Editorial Team
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 Candlestick Chart (MSI as at Apr 16, 2018):
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.
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.
Breaking through the key resistance level at 108.52 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.
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.