ROP closes lower for the 3rd day in a row


Roper Industries (ROP) Technical Analysis Report for Aug 10, 2018 [< 1 min read]
Highlights
ROP closes lower for the 3rd day in a row
ROP breaks below previous session low
ROP falls to lowest close since July 25th
TQ Sentiment
Report Sentiment: 0% Neutral
Technical Forecast:
Overview

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 chart for ROP
Volatility

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.

Support/Resistance

Prices are trading close to a key support level at 292.23.

Trend

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.

Order Flow

Selling could accelerate should prices move below the nearby swing low at 292.23 where further sell stops might get activated.

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
Condition Forecast Direction Win Avg Worst Best Events
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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