PX rises to highest close since March 13th


Praxair Inc. (PX) Technical Analysis Report for May 17, 2018 [< 1 min read]
Highlights
PX closes higher for the 7th day in a row
PX ends the day on a bullish note closing near the high of the day
PX pushes through previous session high
PX rises to highest close since March 13th
TQ Sentiment
Report Sentiment: 40% Bullish
Technical Forecast:
Overview

Moving higher for the 7th day in a row, PX ended Thursday at 159.86 gaining $0.86 (0.54%). Today's closing price of 159.86 marks the highest close since March 13th. Closing above Wednesday's high at 159.81, the stock confirms its breakout through the previous session's high having traded $0.36 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 PX
Volatility

Thursday's trading range was $1.65 (1.04%), that's below last trading month's daily average range of $2.92. Things look different on a weekly scale, where volatility is way below the markets average with the monthly volatility being slightly above average.

Trend

The trend is clearly bullish, showing an intact uptrend in the short, medium and long-term.

Order Flow

Selling might speed up should prices move below the nearby swing low at 157.13 where further sell stops could get triggered. Trading close to March's high at 163.47 we might see further upside momentum if potential buy stops at the level get activated.

Conclusion

While classical technical analysis indicates a neutral sentiment for the next trading day, our quantitative statistics show a different picture being bullish.

Market Conditions for Praxair Inc.
Condition Forecast Direction Win Avg Worst Best Events
Bullish Engulfing Candle TQ Pro Members Only
Close to R1 Resistance TQ Pro Members Only
Decisive Up Move TQ Pro Members Only
White Candle TQ Pro Members Only
Low close to previous low TQ Pro Members Only
More market conditions identified for TQ Pro members...
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Latest Report:

PX pushes through prior session high

Aug 17, 2018
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