WAT snaps to lowest close since May 2nd


Waters Corporation (WAT) Technical Analysis Report for Aug 10, 2018 [< 1 min read]
Highlights
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
TQ Sentiment
Report Sentiment: 50% Bearish
Technical Forecast:
Overview

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 chart for WAT
Volatility

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.

Support/Resistance

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.

Trend

The trend is clearly bearish, showing an intact downtrend in the short, medium and long-term.

Order Flow

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.

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 Waters Corporation
Condition Forecast Direction Win Avg Worst Best Events
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
More market conditions identified for TQ Pro members...
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Latest Report:

WAT pushes through prior session high

Aug 16, 2018
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