PNR finds buyers at key support level

Pentair Ltd. (PNR) Technical Analysis Report for Sep 14, 2018

Highlights

PNR rallies 2.01% closing $0.87 higher
PNR dominated by bulls lifting the market higher throughout the day
PNR pushes through 100-day moving average
PNR finds buyers at key support level
PNR finds support at 50-day moving average

TQ Sentiment

Report Sentiment: 70% Bullish
Technical Forecast:

Overview

Moving higher for the 3rd day in a row, PNR finished the week 2.27% higher at 44.07 after surging $0.87 (2.01%) today. This is the biggest single day gain in over a month. Today's closing price of 44.07 marks the highest close since August 7th. The bulls were in full control today, moving the market higher throughout the whole session. Closing above Thursday's high at 43.32, the share confirms its breakout through the previous session's high having traded $0.87 above it intraday. Ending with a strong close near the high of the day sets a bullish note for the next session.

Daily chart for PNR

Volatility

Friday's trading range was $0.97 (2.24%), that's far above last trading month's daily average range of $0.63. Weekly volatility is also higher, being slightly above the markets average with the monthly volatility being way below average.

Support/Resistance

After trading as low as 43.22 during the day, the market bounced off the key support level at 43.24. The failure to close below the support might increase that levels importance as support going forward. Prices are trading close to the key resistance level at 44.24. After trading as low as 43.22 during the day, Pentair Ltd. found support at the 50-day moving average at 43.27.

Trend

Although still in a long-term downtrend, the short and medium-term trends both turned bullish already. The stock managed to break above the 100-day moving average at 43.72 today for the first time since April 16th.

Order Flow

Trading close to July's high at 44.80 we could see further upside momentum if potential buy stops at the level get triggered.

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.

Market Conditions for Pentair Ltd.

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Latest Report:

PNR finds buyers at key support level

Sep 21, 2018
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