BLND.L closes higher for the 3rd day in a row


British Land (BLND.L) Technical Analysis Report for Jun 14, 2018 [1 min read]
Highlights
BLND.L pushes through key resistance level
BLND.L closes higher for the 3rd day in a row
BLND.L ends the day on a bullish note closing near the high of the day
BLND.L pushes through previous session high
BLND.L rises to highest close since May 22nd
TQ Sentiment
Report Sentiment: 66% Bullish
Technical Forecast:
Overview

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 chart for BLND.L
Volatility

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.

Price Action

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.

Support/Resistance

Breaking through the key resistance level at 689.60 today, it is now likely to act 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 703.00, upside momentum might accelerate should the share be able to break out to new highs for the year.

Conclusion

Even though both sentiments are bullish for the next trading day, the classical technical analysis metrics are only bullish while our quantitative statistics show a very bullish sentiment.

Market Conditions for British Land
Condition Forecast Direction Win Avg Worst Best Events
Down Close Near Low of Period TQ Pro Members Only
Closed below last periods low TQ Pro Members Only
Close to S1 Support TQ Pro Members Only
Black Candle 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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Latest Report:

BLND.L breaks below prior session low

Aug 14, 2018
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