WAT snaps to lowest close since May 2nd

Waters Corporation (WAT) Technical Analysis Report for Aug 10, 2018 | by Techniquant Editorial Team


WAT unable to break through key resistance level
WAT closes lower for the 3rd day in a row
WAT breaks below previous session low
WAT falls 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.

Daily Candlestick Chart (WAT as at Aug 10, 2018):

Daily technical analysis candlestick chart for Waters Corporation (WAT) as at Aug 10, 2018

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.

Market Conditions for WAT as at Aug 10, 2018

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