ROP closes lower for the 3rd day in a row
Roper Industries (ROP) Technical Analysis Report for Aug 10, 2018 | by Techniquant Editorial Team
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.
Daily Candlestick Chart (ROP as at Aug 10, 2018):
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.