MTD closes higher for the 2nd day in a row
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.
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.
Prices are trading close to the key resistance level at 564.53.
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.
Buying could speed up should prices move above the nearby swing high at 571.02 where further buy stops might get triggered.
Both sentiments, the classical technical analysis and our quantitative statistics are in perfect alignment today showing a neutral sentiment for the next trading day.
Market Conditions for Mettler Toledo
|Close to S1 Support||TQ Pro Members Only|
|Low close to previous low||TQ Pro Members Only|
|Close to Swing High||TQ Pro Members Only|
|Bounced off Technical Support S1||TQ Pro Members Only|
|High close to previous High||TQ Pro Members Only|
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