AHT.L rises to highest close since June 18th
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.
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.
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.
The trend is clearly bullish, showing an intact uptrend in the short, medium and long-term.
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.
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
|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|
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