BRBY.L dominated by bulls lifting the market higher throughout the day


Burberry (BRBY.L) Technical Analysis Report for Jun 14, 2018 [< 1 min read]
Highlights
BRBY.L dominated by bulls lifting the market higher throughout the day
BRBY.L closes higher for the 2nd day in a row
BRBY.L ends the day on a bullish note closing near the high of the day
BRBY.L pushes through previous session high
BRBY.L rises to highest close since June 6th
TQ Sentiment
Report Sentiment: 50% Bullish
Technical Forecast:
Overview

Moving higher for the 2nd day in a row, BRBY.L ended Thursday at 2163.00 gaining £26.00 (1.22%). Today's closing price of 2163.00 marks the highest close since June 6th. The bulls were in full control today, moving the market higher throughout the whole session. Closing above Wednesday's high at 2150.00, the market confirms its breakout through the prior session's high having traded £19.00 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 BRBY.L
Volatility

Thursday's trading range was £56.00 (2.64%), that's above last trading month's daily average range of £43.30. Things look different on a weekly scale, where volatility is below the markets average with the monthly volatility being slightly below average.

Support/Resistance

Prices are trading close to the key resistance level at 2186.00.

Trend

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

Conclusion

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

Market Conditions for Burberry
Condition Forecast Direction Win Avg Worst Best Events
Close to S1 Support TQ Pro Members Only
Closed above last periods high TQ Pro Members Only
2 Consecutive Higher Closes TQ Pro Members Only
52 Week High TQ Pro Members Only
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