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MTD closes higher for the 2nd day in a row


Technical Analysis Report for MTD - May 17, 2018 [< 1 min read]
Highlights
MTD pushes through 20-day moving average
MTD closes higher for the 2nd day in a row
MTD pushes through previous session high
TQ Sentiment
Technical Forecast:
Overview

Moving higher for the 2nd day in a row, MTD finished Thursday at 562.10 gaining $1.35 (0.24%). Closing above Wednesday's high at 561.72, Mettler Toledo confirms its breakout through the prior session's high having traded $1.88 above it intraday.

Daily chart for MTD
Volatility

Thursday's trading range was $3.90 (0.7%), that's far below last trading month's daily average range of $11.12. Things look different on a weekly scale, where volatility is slightly below the markets average with the monthly volatility being slightly below average.

Support/Resistance

Prices are trading close to the key resistance level at 564.53.

Trend

The trend is clearly bearish, showing an intact downtrend in the short, medium and long-term. The stock managed to break above the 20-day moving average at 562.06 today for the first time since May 14th.

Order Flow

Buying could speed up should prices move above the nearby swing high at 571.02 where further buy stops might get triggered.

Conclusion

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

Report Market Conditions
ConditionForecastDirectionWinAvgWorstBest
Bullish Break through SMA 20 TQ Pro Members Only
Closed above last periods high TQ Pro Members Only
Close to R1 Resistance TQ Pro Members Only
2 Consecutive Higher Closes TQ Pro Members Only
Close to Swing High TQ Pro Members Only
More market conditions identified for TQ Pro members...
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