Roper Technologies Inc (ROP) Breaks Key Support, Watch This Level

Today, leading manufacturer of energy systems controls, scientific/industrial imaging software, and industrial products company, Roper Technologies Inc (ROP), is falling again. The stock has been steadily declining since mid-January when it traded as high as $439.57 a share. The stock is now trading below its important 50 and 200-day moving averages. This puts the stock in a weak technical position on the charts. Currently, Roper Technologies Inc (ROP) stock is trading lower by 3.61% to $373.84 a share.

The next key support area for Roper Technologies Inc (ROP) stock will be around the $348.00 area. This is where there is a major retrace level from the March 2020 lows to the August 2020 top. Often, major retrace levels will serve as solid support when tested. This level is also where the stock staged a major breakout back in early May 2020. Prior breakout areas are also very strong support when the stock backtests the level.

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