ROP closes lower for the 3rd day in a row
Moving lower for the 3rd day in a row, ROP ended the week -0.61% lower at 293.25 after losing $2.22 (-0.75%) today. Today's closing price of 293.25 marks the lowest close since July 25th. Closing below Thursday's low at 295.17, Roper Industries confirms its breakout through the previous session's low having traded $2.82 below it intraday.
Friday's trading range was $2.32 (0.79%), that's below last trading month's daily average range of $5.13. Things look different on a weekly scale, where volatility is way below the markets average with the monthly volatility being slightly above average.
Prices are trading close to a key support level at 292.23.
While the share is currently in a short-term down trend, this might just be a correction, as the medium and long term trends are both positive.
Selling could accelerate should prices move below the nearby swing low at 292.23 where further sell stops might get activated.
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
|Decisive Up Move||TQ Pro Members Only|
|White Candle||TQ Pro Members Only|
|Close to S1 Support||TQ Pro Members Only|
|Price broke through Technical Resistance R1||TQ Pro Members Only|
|Low close to previous low||TQ Pro Members Only|
More market conditions identified for TQ Pro members...
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