W. W. Grainger closes at $675.51 after gaining 1.48%

A quick look at Friday: after closing at $665.64 on Thursday, W. W. Grainger rallied as high as $678.05 but ended the day at $675.51.

W W Grainger Inc could be slowing down soon as it approaches resistance at $679.24. Of course, crossing it might suggest further gains are ahead. Despite posting gains on Friday, W. W. Grainger slid below its 50 day Simple Moving Average at $672.72 during the last session — an early indicator that a negative trend could be emerging. On the other hand, note that 'Bullish Harami' is a candlestick chart indicator used for detecting reversals in an existing bear trend. It is generally indicated by a small price increase that's contained within a broader downward price movement and is commonly associated with a bearish trend coming to an end. W. W. Grainger is currently trading around the $677.68 Fibonacci resistance level.

Overall, looking at the technical analysis landscape, it seems W. W. Grainger is likely to reverse course and start pointing down in the short term.

This rally in W. W. Grainger's share price coincided with other industrials stocks as Union Pacific was up 2.12%. Caterpillar gained 2.24%, as it traded at $215.09. United Parcel Service traded at $175.74 after closing Friday's trading day at $173.29 (up 1.41%).

Furthermore, the market is looking at United States EIA Short-Term Energy Outlook will be released tomorrow at 16:00 UTC.

The stock has been trending positively for about 29 days. US-based industrial supply company W.W. Grainger, has managed to gain 21.9% so far this year despite trading at lows around $442.09 previously.