ROK declines to lowest close since July 24th


Rockwell Automation Inc. (ROK) Technical Analysis Report for Aug 10, 2018 [< 1 min read]
Highlights
ROK breaks below 100-day moving average
ROK unable to break through key resistance level
ROK closes lower for the 3rd day in a row
ROK breaks below previous session low
ROK falls to lowest close since July 24th
TQ Sentiment
Report Sentiment: 60% Bearish
Technical Forecast:
Overview

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.

Daily chart for ROK
Volatility

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.

Support/Resistance

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.

Trend

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.

Conclusion

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.
Condition Forecast Direction Win Avg Worst Best Events
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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Latest Report:

ROK pushes through key resistance level

Aug 16, 2018
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