COH.AX pushes through previous session high

Cochlear Limited (COH.AX) Technical Analysis Report for Jul 13, 2018

Highlights

COH.AX rallies 3.17% closing A$6.31 higher
COH.AX pushes through key resistance level
COH.AX dominated by bulls lifting the market higher throughout the day
COH.AX closes higher for the 2nd day in a row
COH.AX ends the day on a bullish note closing near the high of the day

TQ Sentiment

Report Sentiment:
71% Bullish
Technical Forecast:
TQ Pro Only
See the overall Technical Analysis forecast for today.

Overview

Moving higher for the 2nd day in a row, COH.AX ended the week 3.2% higher at 205.32 after surging A$6.31 (3.17%) today. This is the biggest single day gain in over a month. Today's closing price of 205.32 marks the highest close since Inception. The bulls were in full control today, moving the market higher throughout the whole session. Closing above Thursday's high at 202.33, the stock confirms its breakout through the previous session's high having traded A$3.63 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 COH.AX

Volatility

Friday's trading range was A$6.43 (3.22%), that's far above last trading month's daily average range of A$3.27. Weekly volatility is also higher, being above the markets average with the monthly volatility being slightly below average.

Support/Resistance

Breaking through the key resistance level at 204.56 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.

Conclusion

Both sentiments, the classical technical analysis and our quantitative statistics are in perfect alignment today showing a bullish sentiment for the next trading day.

Market Conditions for Cochlear Limited

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