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RMD closes higher for the 3rd day in a row


Technical Analysis Report for RMD - Apr 16, 2018 [< 1 min read]
Highlights
RMD closes above its opening price after recovering from early selling pressure
RMD closes higher for the 3rd day in a row
RMD pushes through previous session high
RMD rises to highest close since January 31st
RMD ends the day indecisive
TQ Sentiment
Technical Forecast:
Overview

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 chart for RMD
Volatility

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.

Support/Resistance

Prices are trading close to a key support level at 98.74.

Trend

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

Order Flow

Trading close to February's high at 101.00 we could 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.

Report Market Conditions
ConditionForecastDirectionWinAvgWorstBest
Closed above last periods high TQ Pro Members Only
Close to S1 Support TQ Pro Members Only
3 Consecutive Higher Closes TQ Pro Members Only
Bullish Intraday Reversal TQ Pro Members Only
More market conditions identified for TQ Pro members...
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Latest Report:

RMD ends the day indecisive

Apr 25, 2018
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