After three days of going down, W. W. Grainger is flat today, hovering around $655.87

W. W. Grainger trades at $655.87, after ending yesterday at $656.58.

United States Pending Home Sales is next.

Uncertainty around W. W. Grainger is reflected by published market data as United States GDP released today at 12:30 UTC is better than expected at 1.3 but down from preceding data of 2.6 according to new data. Highly important Initial Jobless Claims data from United States beat analyst expectations of 250,000 with a reading of 229,000. Following a previous reading of 5 million, Crude Oil Inventories in United States released yesterday at 14:30 UTC fell short of the -920,000 figure expected by analysts with an actual reading of -12.46 million.

Trend-focused traders would be interested to note that the Commodity Channel Index (CCI) indicator is below -100, meaning the market price is unusually low and below its rolling moving average. Technical analysis indicates that a new, strong downtrend could be forthcoming with short positions favored. Analysis based on the asset volatility indicates that W. W. Grainger's upper Bollinger Band® is at $699.46 and the lower is $653.59.

The current technical outlook indicates W. W. Grainger will continue to ebb sideways within tight ranges for the immediate future.

Meanwhile, mixed performances are seen in other industrials stocks as Lockheed Martin is trading around $446.25 (down 1.43%). United Parcel Service is up 0.73%. After closing the previous session (yesterday) at $199.27, Boeing lost $2.19 and is trading around $197.08.

Moreover, United States Pending Home Sales is projected to outperform its last figure with 0.5%. It previously stood at -5.2%; data will be released today at 14:00 UTC. Tomorrow at 12:30 UTC data for United States Core Durable Goods Orders will be released, with an expected decline to 0% from the preceding figure of 0.2%. United States Core PCE Price Index (MoM) (Apr) is scheduled for tomorrow at 12:30 UTC.

This year has been a bright one for the industrial supplier after trading as low as $442.09 and going on to appreciate by 18.1% year to date.