RHI closes above its opening price after recovering from early selling pressure
Robert Half International (RHI) Technical Analysis Report for Aug 10, 2018 | by Techniquant Editorial Team
RHI finished the week 2.71% higher at 79.32 after losing $0.16 (-0.2%) today. Trading up to $0.66 lower after the open, the stock managed to reverse during the session as bulls took control ending the day above its opening price. Closing within the prior day's range, prices failed to decisively move beyond the previous day's trading range.
Daily Candlestick Chart (RHI as at Aug 10, 2018):
Friday's trading range was $1.48 (1.88%), that's slightly below last trading month's daily average range of $1.53. Things look different on a weekly scale, where volatility is below the markets average with the monthly volatility being way above average.
Prices are trading close to the key resistance level at 79.91.
The trend is clearly bullish, showing an intact uptrend in the short, medium and long-term.
Buying could accelerate should prices move above the close-by swing high at 79.91 where further buy stops might get triggered.