RMD closes higher for the 3rd day in a row
ResMed Inc. (RMD) Technical Analysis Report for Apr 16, 2018 | by Techniquant Editorial Team
Moving higher for the 3rd day in a row, RMD finished Monday at 99.70 gaining $0.85 (0.86%). Today's closing price of 99.70 marks the highest close since January 31st. Trading up to $0.42 lower after the open, the market managed to reverse during the session as bulls took control ending the day above its opening price. Closing above Friday's high at 99.59, the stock confirms its breakout through the prior session's high having traded $0.57 above it intraday. Ending the day with an indecisive close, neither buyers nor sellers were able to gain control during the session.
Daily Candlestick Chart (RMD as at Apr 16, 2018):
Monday's trading range was $1.22 (1.23%), that's far below last trading month's daily average range of $2.08. Things look different on a weekly scale, where volatility is slightly above the markets average with the monthly volatility being slightly above average.
Prices are trading close to a key support level at 98.74.
The trend is clearly bullish, showing an intact uptrend in the short, medium and long-term.
Trading close to February's high at 101.00 we could see further upside momentum if potential buy stops at the level get activated.