WAT drops to lowest close since January 22nd

Waters Corporation (WAT) Technical Analysis Report for Apr 23, 2019 | by Techniquant Editorial Team


WAT tanks $29.68 (-12.31%) after posting weak earnings
WAT crashes, losing $29.68 (-12.31%) within a single day on high volume
WAT breaks below 100-day moving average for the first time since January 7th
WAT falls to lowest close since January 22nd


WAT finished Tuesday at 211.36 tanking $29.68 (-12.31%) on high volume, significantly underperforming the S&P 500 (0.88%) following today's earnings report. This is the biggest single-day loss ever recorded for the share. The last time we've seen such an unusually strong single-day loss on April 16th, WAT lost -1.09% on the following trading day. Today's close at 211.36 marks the lowest recorded closing price since January 22nd.

Daily Candlestick Chart (WAT as at Apr 23, 2019):

Daily technical analysis candlestick chart for Waters Corporation (WAT) as at Apr 23, 2019

WAT reported earnings of $1.6 per share before today's market open. With analysts having expected an EPS of $1.74, Waters Corporation missed market expectations by -8.0%. The company's last earnings report was released on Jan. 23, 2019, when Waters Corporation reported earnings of $2.87 per share surpassing market expectations by 7.5%.

Tuesday's trading range has been $14.56 (7.19%), that's far above the last trading month's daily average range of $4.82. Weekly volatility is also higher, being way above the market's average weekly trading range. The longer-term, monthly volatility is currently strongly higher than usual for WAT.

One bullish candlestick pattern matches today's price action, the White Candle.

The stock closed below the 100-day moving average at 221.81 for the first time since January 7th.

Crossing below the lower Bollinger Band for the first time since April 18th, prices have shown unusually strong downward momentum in the short-term. This could either indicate a potential selling climax after which prices might head back up towards the mean of the Bollinger Bands at 246.25 or signal the beginning of a strong momentum breakout leading to even lower prices.

Though still in a long-term uptrend, the short and medium-term trends both turned bearish already.

Among the 12 market conditions that our pattern recognition engine identified today, the statistics for the Stock Earning Report based market condition "Trading Day post weak Earnings Report" stand out. Although it is usually interpreted as neutral, it has actually shown to be bullish for Waters. Out of 5 times, WAT closed higher 60.00% of the time on the next trading day after the market condition occurred. The optimal exit for swing trading this condition on the long side has been after 10 trading days, showing a win rate of 80.00% with an average market move of 2.60%.

Market Conditions for WAT as at Apr 23, 2019

Loading Market Conditions for WAT (Waters Corporation)...
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