ROP pops to highest close since June 15th
Roper Industries (ROP) Technical Analysis Report for Jul 13, 2018
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.
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.
Breaking through the key resistance level at 282.95 today, it is now likely to act as support going forward.
The trend is clearly bullish, showing an intact uptrend in the short, medium and long-term.
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.
While classical technical analysis indicates a neutral sentiment for the next trading day, our quantitative statistics show a different picture being bullish.