WAT snaps to lowest close since May 2nd
Moving lower for the 3rd day in a row, WAT finished the week -2.06% lower at 189.99 after losing $1.96 (-1.02%) today on low volume. Today's closing price of 189.99 marks the lowest close since May 2nd. Closing below Thursday's low at 191.77, Waters Corporation confirms its breakout through the prior session's low having traded $2.63 below it intraday.
Friday's trading range was $2.74 (1.43%), that's slightly below last trading month's daily average range of $3.86. Things look different on a weekly scale, where volatility is slightly below the markets average with the monthly volatility being slightly above average.
Unable to break through the key technical resistance level at 191.82, the market closed below it after spiking as high as 191.88 during the day. The failure to close above the resistance could increase that levels importance as resistance going forward.
The trend is clearly bearish, showing an intact downtrend in the short, medium and long-term.
With prices trading close to this year's low at 187.28, downside momentum might accelerate should the share break out to new lows for the year.
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 Waters Corporation
|Close to S1 Support||TQ Pro Members Only|
|Closed above last periods high||TQ Pro Members Only|
|Bullish Spinning Top||TQ Pro Members Only|
|Bullish Intraday Reversal||TQ Pro Members Only|
|Close to Swing Low||TQ Pro Members Only|
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