ROK declines to lowest close since July 24th
Moving lower for the 3rd day in a row, ROK finished the week -3.47% lower at 173.26 after losing $2.65 (-1.51%) today. Today's closing price of 173.26 marks the lowest close since July 24th. Closing below Thursday's low at 175.18, Rockwell Automation confirms its breakout through the prior session's low having traded $2.65 below it intraday.
Friday's trading range was $2.40 (1.38%), that's below last trading month's daily average range of $3.52. Things look different on a weekly scale, where volatility is slightly below the markets average with the monthly volatility being above average.
Unable to break through the key technical resistance level at 174.66, the stock closed below it after spiking as high as 174.93 during the day. The failure to close above the resistance might increase that levels importance as resistance going forward.
The trend is clearly bearish, showing an intact downtrend in the short, medium and long-term. The market broke below the 100-day moving average at 174.13 today for the first time since February 5th.
While classical technical analysis indicates a slightly bearish sentiment for the next trading day, our quantitative statistics show a different picture being bullish.
Market Conditions for Rockwell Automation Inc.
|Bearish Bounce off SMA 50||TQ Pro Members Only|
|Close to S1 Support||TQ Pro Members Only|
|Price broke through Technical Resistance R1||TQ Pro Members Only|
|Closed above last periods high||TQ Pro Members Only|
|Bearish Bounce off SMA 100||TQ Pro Members Only|
More market conditions identified for TQ Pro members...
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