PX rises to highest close since March 13th
Praxair Inc. (PX) Technical Analysis Report for May 17, 2018 | by Techniquant Editorial Team
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 Candlestick Chart (PX as at May 17, 2018):
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.
The trend is clearly bullish, showing an intact uptrend in the short, medium and long-term.
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.