ROP runs into sellers around 276.01 for the third day in a row


Roper Industries (ROP) Technical Analysis Report for Apr 16, 2018 | by Techniquant Editorial Team

Highlights

ROP runs into sellers around 276.01 for the third day in a row
ROP fails to close above 50-day moving average
ROP still stuck within tight trading range
ROP closes within previous day's range after lackluster session

Overview

ROP ended Monday at 274.34 gaining $1.23 (0.45%). Closing within the prior day's range, prices failed to decisively move beyond the previous day's trading range in a lackluster session.

Daily Candlestick Chart (ROP as at Apr 16, 2018):

Daily technical analysis candlestick chart for Roper Industries (ROP) as at Apr 16, 2018

Monday's trading range was $2.11 (0.77%), that's far below last trading month's daily average range of $5.85. Things look different on a weekly scale, where volatility is below the markets average with the monthly volatility being slightly below average. Prices continued to consolidate within a tight trading range between 269.44 and 276.34 which it has been in now for the last trading week.

During the whole day, prices traded within the prior day's range, unable to trade above the previous day's high or below the prior day's low forming an Inside Bar.

Prices are trading close to the key resistance level at 275.49. The market ran into sellers again today around 276.01 for the third trading day in a row after having found sellers at 276.34 in the previous session and at 275.70 two days ago. After spiking up to 276.01 during the day, the share found resistance at the 50-day moving average at 275.80.

The stock shows strength in the short-term supported by its long-term uptrend with only the medium-term trend being bearish.

Buying could accelerate should prices move above the nearby swing high at 276.34 where further buy stops might get triggered. Selling could speed up should prices move below the close-by swing low at 269.44 where further sell stops might get activated. As prices are trading close to April's high at 280.83, upside momentum could accelerate should ROP mark new highs for the month. Further selling might move prices lower should the market test March's nearby low at 264.21.


Market Conditions for ROP as at Apr 16, 2018

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ROP closes within previous day's range

Oct 19, 2018
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