AHT.L rises to highest close since June 18th


Ashtead Group (AHT.L) Technical Analysis Report for Jul 13, 2018 [< 1 min read]
Highlights
AHT.L closes below its opening price unable to hold early session gains
AHT.L finds buyers at key support level
AHT.L rises to highest close since June 18th
AHT.L ends the day indecisive
TQ Sentiment
Report Sentiment: 0% Neutral
Technical Forecast:
Overview

AHT.L ended the week 4.43% higher at 2355.00 after gaining £12.00 (0.51%) today. Today's closing price of 2355.00 marks the highest close since June 18th. Trading £48.00 higher after the open, Ashtead Group was unable to hold its gains as the bears took control ending the day below its opening price. Ending the day with an indecisive close, neither buyers nor sellers were able to gain control during the session.

Daily chart for AHT.L
Volatility

Friday's trading range was £58.00 (2.46%), that's slightly above last trading month's daily average range of £51.70. Things look different on a weekly scale, where volatility is slightly below the markets average with the monthly volatility being slightly below average.

Support/Resistance

After trading as low as 2350.00 during the day, the stock bounced off the key support level at 2352.00. The failure to close below the support could increase that levels importance as support going forward.

Trend

The trend is clearly bullish, showing an intact uptrend in the short, medium and long-term.

Order Flow

With prices trading close to this year's high at 2441.00, upside momentum might speed up should the share be able to break out to new highs for the year.

Conclusion

While classical technical analysis indicates a neutral sentiment for the next trading day, our quantitative statistics show a different picture being bullish.

Market Conditions for Ashtead Group
ConditionForecastDirectionWinAvgWorstBestEvents
Bullish Bounce off SMA 50 TQ Pro Members Only
Close to S1 Support TQ Pro Members Only
2 Consecutive Lower Closes TQ Pro Members Only
RSI(2) below 20 TQ Pro Members Only
Bounced off Technical Support S1 TQ Pro Members Only
More market conditions identified for TQ Pro members...
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