DCC.L surges 3.7% on high volume
Moving higher for the 2nd day in a row, DCC.L finished the week 4.3% higher at 7155.00 after surging £255.00 (3.7%) today on high volume. This is the biggest single day gain in over a year. Today's closing price of 7155.00 marks the highest close since June 14th. The bulls were in full control today, moving the market higher throughout the whole session. Closing above Thursday's high at 6935.00, the market confirms its breakout through the prior session's high having traded £285.00 above it intraday.
Friday's trading range was £220.00 (3.14%), that's far above last trading month's daily average range of £102.75. Weekly volatility is also higher, being way above the markets average with the monthly volatility being below average.
Breaking through the key resistance level at 7135.00 today, it is now likely to act as support going forward. Prices are trading close to the key resistance level at 7250.00.
The share shows strength in the short-term supported by its long-term uptrend with only the medium-term trend being bearish. The stock managed to break above the 200-day moving average at 7085.67 today for the first time since May 30th.
Even though both sentiments are bullish for the next trading day, the classical technical analysis metrics are only slightly bullish while our quantitative statistics show a bullish sentiment.
Market Conditions for DCC plc
|Bearish Outside Bar||TQ Pro Members Only|
|High close to previous High||TQ Pro Members Only|
|Close to S1 Support||TQ Pro Members Only|
|Bullish Bounce off SMA 20||TQ Pro Members Only|
|Bullish Bounce off SMA 100||TQ Pro Members Only|
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