ADM.L unable to break through key resistance level
Admiral Group (ADM.L) Technical Analysis Report for Jul 13, 2018
Moving higher for the 5th day in a row, ADM.L ended the week 4.17% higher at 1948.00 after gaining £14.00 (0.72%) today. Today's closing price of 1948.00 marks the highest close since May 25th. Closing above Thursday's high at 1939.50, Admiral Group confirms its breakout through the previous session's high having traded £33.50 above it intraday. Ending the day with an indecisive close, neither buyers nor sellers were able to gain control during the session.
Friday's trading range was £32.00 (1.64%), that's slightly above last trading month's daily average range of £27.00. Weekly volatility is also higher, being way above the markets average with the monthly volatility being slightly above average.
Unable to break through the key technical resistance level at 1953.50, the market closed below it after spiking as high as 1973.00 during the day. The failure to close above the resistance could increase that levels importance as resistance going forward.
The share shows strength in the short-term supported by its long-term uptrend with only the medium-term trend being bearish.
While classical technical analysis indicates a neutral sentiment for the next trading day, our quantitative statistics show a different picture being slightly bullish.