BT.A.L dominated by bulls lifting the market higher throughout the day
BT Group (BT.A.L) Technical Analysis Report for Jun 14, 2018 | by Techniquant Editorial Team
BT.A.L. L finished Thursday at 214.10 surging £6.10 (2.93%) on high volume. This is the biggest single day gain in over two weeks. Today's closing price of 214.10 marks the highest close since May 11th. The bulls were in full control today, moving the market higher throughout the whole session. Closing above Wednesday's high at 209.25, the share confirms its breakout through the prior session's high having traded £5.95 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 (BT.A.L as at Jun 14, 2018):
Thursday's trading range was £8.70 (4.2%), that's far above last trading month's daily average range of £4.07. Weekly volatility is also higher, being above the markets average with the monthly volatility being way below average.
Unable to break through the key technical resistance level at 214.80, the market closed below it after spiking as high as 215.20 during the day. The failure to close above the resistance could increase that levels importance as resistance going forward.
Though the stock is experiencing a short-term up trend, this might just be a correction, as both the medium and long term trends are still in negative territory.
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