TRMB closes lower for the 2nd day in a row
Trimble Navigation (TRMB) Technical Analysis Report for Aug 10, 2018 | by Techniquant Editorial Team
Moving lower for the 2nd day in a row, TRMB finished the week -3.31% lower at 39.19 after losing $0.29 (-0.73%) today. Trading $0.23 higher after the open, the market was unable to hold its gains as the bears took control ending the day below its opening price. Closing below Thursday's low at 39.37, the share confirms its breakout through the prior session's low having traded $0.43 below it intraday. Ending the day with an indecisive close, neither buyers nor sellers were able to gain control during the session.
Daily Candlestick Chart (TRMB as at Aug 10, 2018):
Friday's trading range was $0.52 (1.33%), that's slightly below last trading month's daily average range of $1.12. Things look different on a weekly scale, where volatility is slightly below the markets average with the monthly volatility being way above average.
Prices are trading close to the key resistance level at 40.25.
The trend is clearly bullish, showing an intact uptrend in the short, medium and long-term.
Buying might accelerate should prices move above the nearby swing high at 40.25 where further buy stops could get activated.