BLND.L closes higher for the 3rd day in a row
British Land (BLND.L) Technical Analysis Report for Jun 14, 2018 | by Techniquant Editorial Team
Moving higher for the 3rd day in a row, BLND.L ended Thursday at 692.00 gaining £5.40 (0.79%) on high volume. Today's closing price of 692.00 marks the highest close since May 22nd. Closing above Wednesday's high at 689.40, the market confirms its breakout through the prior session's high having traded £4.80 above it intraday. Ending with a strong close near the high of the day sets a bullish note for the next session.
Daily Candlestick Chart (BLND.L as at Jun 14, 2018):
Thursday's trading range was £13.40 (1.96%), that's far above last trading month's daily average range of £8.56. Things look different on a weekly scale, where volatility is slightly below the markets average with the monthly volatility being slightly below average.
In a volatile session, prices traded above the previous day's high as well as below the prior day's low, forming a bullish Outside Bar.
Breaking through the key resistance level at 689.60 today, it is now likely to act 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 703.00, upside momentum might accelerate should the share be able to break out to new highs for the year.