WAT 100MA BouncePrice has experienced in the past a strong bounce off the 100MA
A similar situation is evolving right now
My question is will we see a large rise following this area in green? As was seen in the prior situation
Perhaps the sharp rise in prior sense was seen due to the relative age of the stock price
WAT
US Stock In Play: $WAT (Waters Corporation)$WAT rallied a further +8.92% to a new all time high since our last posting, closing at $307.91. The past 4 days of trading session is met with consecutive reduction of price volatility in $WAT, coupled with decreasing session volume. $WAT is currently 91.80% owned by institutions and insiders.
With $WAT remaining well below its peak implied volatility of 2021, the existing price action is stipulating a pause in its existing rally, before a further resumption of shares accumulation by the institutional traders.
$WAT a specialty measurement company, provides analytical workflow solutions in Asia, the Americas, and Europe.
US Stock In Play: $WAT (Waters Corporation)U.S. stocks climbed to record highs on Monday with both the Dow Jones Industrial Average ($DJI) and S&P 500 ($SPX) hitting a new record close. This is on the back of a strong bounce in U.S. job growth and solid data in the services sector raised expectations for a swift economic recovery from the pandemic.
$WAT rallied +3.84% to an all time high closing of $295.65. The bullish momentum witnessed on Monday have $WAT also breaking out of a 7 month structural trend channel, setting sight for further upside in the immediate week.
At the current junction, implied volatility of $WAT remains 25% away from its 2021 peak of $7.80, while $WAT remains merely 1% away from its all time high traded price of $299.
$WAT a specialty measurement company, provides analytical workflow solutions in Asia, the Americas, and Europe.
WAT Approaching Resistance, Potential Drop! WAT is approaching our first resistance at 209.13 (horizontal swing high resistance, 78.6% fibonacci retracement, 100% fibonacci extension) where a strong drop might occur below this level pushing price down to our major support at 191.95 (50% fibonacci retracment, 61.8% fibonacci extension).
Stochastic (89,5,3) is also approaching resistance and we might see a corresponding drop in price.
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