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June 12, 2023Friday at a glance: W. W. Grainger recovered from the previous trading session's losses and went up to $706.48 Friday after it traded lower at $696.
Despite posting gains on Friday, W W Grainger Inc slid below its 3 day Simple Moving Average at $696.21 during the last session — an early indicator that a negative trend could be emerging. W. W. Grainger's upper Bollinger Band® is at $709.75, this is a slight indication of a slowdown. Although W. W. Grainger is appreciating today after rising as high as $708.4, price action is now slowing and consolidating around $4.51 below the $711 resistance level.
Technical analysis suggests there could be an imminent reversal for W. W. Grainger.
While W. W. Grainger was bullish Friday, the following industrials stocks underperformed: United Parcel Service stumbles 0.58% Friday to close at $171.48. Union Pacific lost 0.66% Friday and closed at $199.67. Deere & Company went down to $378.87, losing 0.5% after it closed at $380.77 Friday.
The market is looking forward to the release of new data: United States Consumer Price Index figure is projected at 0.3%. It previously stood at 0.4%; data will be released tomorrow at 12:30 UTC. United States Core Consumer Prices is expected tomorrow at 12:30 UTC. United States Consumer Price Index is expected tomorrow at 12:30 UTC.
US-based industrial supply company W.W. Grainger, has managed to gain 27.15% so far this year despite trading at lows around $442.09 previously.
