COH.AX pushes through previous session high
Cochlear Limited (COH.AX) Technical Analysis Report for Jul 13, 2018
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.
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.
Breaking through the key resistance level at 204.56 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.
Both sentiments, the classical technical analysis and our quantitative statistics are in perfect alignment today showing a bullish sentiment for the next trading day.