PH closes above its opening price after recovering from early selling pressure
PH ended Monday at 174.52 gaining $2.04 (1.18%). Today's closing price of 174.52 marks the highest close since March 26th. Trading up to $1.29 lower after the open, the share managed to reverse during the session as bulls took control ending the day above its opening price. Closing above Friday's high at 173.88, the stock confirms its breakout through the prior session's high having traded $0.80 above it intraday. Ending with a strong close near the high of the day sets a bullish note for the next session.
Monday's trading range was $2.09 (1.2%), that's far below last trading month's daily average range of $4.19. Things look different on a weekly scale, where volatility is below the markets average with the monthly volatility being slightly above average.
After trading as low as 172.59 during the day, the market bounced off the key support level at 173.10. The failure to close below the support might increase that levels importance as support going forward.
Though PH is experiencing a short-term up trend, this could just be a correction, as both the medium and long term trends are still in negative territory. The share managed to break above the 20-day moving average at 172.44 today for the first time since March 21st.
While classical technical analysis indicates a very bullish sentiment for the next trading day, our quantitative statistics show a different picture being bearish.
Report Market Conditions
|Bounced off Technical Support S1||TQ Pro Members Only|
|Bullish Break through SMA 20||TQ Pro Members Only|
|Closed above last periods high||TQ Pro Members Only|
|Bullish Intraday Reversal||TQ Pro Members Only|
|Up Close near high of period||TQ Pro Members Only|
More market conditions identified for TQ Pro members...
Learn more about TQ Pro
Stocks Top Movers