ROP pops to highest close since June 15th


Roper Industries (ROP) Technical Analysis Report for Jul 13, 2018 [< 1 min read]
Highlights
ROP pushes through key resistance level
ROP closes higher for the 2nd day in a row
ROP pushes through previous session high
ROP rises to highest close since June 15th
TQ Sentiment
Report Sentiment: 50% Bullish
Technical Forecast:
Overview

Moving higher for the 2nd day in a row, ROP ended the week 2.63% higher at 283.45 after gaining $1.52 (0.54%) today. Today's closing price of 283.45 marks the highest close since June 15th. Closing above Thursday's high at 282.31, Roper Industries confirms its breakout through the previous session's high having traded $1.84 above it intraday.

Daily chart for ROP
Volatility

Friday's trading range was $1.61 (0.57%), that's far below last trading month's daily average range of $4.23. Things look different on a weekly scale, where volatility is below the markets average with the monthly volatility being slightly below average.

Support/Resistance

Breaking through the key resistance level at 282.95 today, it is now likely to act as support going forward.

Trend

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

Order Flow

With prices trading close to this year's high at 292.97, upside momentum could speed up should the stock be able to break out to new highs for the year. Further buying might move prices higher should the market test June's close-by high at 287.92.

Conclusion

While classical technical analysis indicates a neutral sentiment for the next trading day, our quantitative statistics show a different picture being bullish.

Market Conditions for Roper Industries
ConditionForecastDirectionWinAvgWorstBestEvents
Close to Swing Low TQ Pro Members Only
Bullish Spinning Top TQ Pro Members Only
Close to Swing High TQ Pro Members Only
Bullish Intraday Reversal TQ Pro Members Only
Close to R1 Resistance TQ Pro Members Only
More market conditions identified for TQ Pro members...
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Latest Report:

ROP ends the day indecisive

Jul 19, 2018
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