DCC.L rockets 2.67% closing £185.00 higher
DCC plc (DCC.L) Technical Analysis Report for Sep 14, 2018 | by Techniquant Editorial Team
DCC.L ended the week 3.94% higher at 7115.00 after surging £185.00 (2.67%) today. This is the biggest single day gain in over two months. Today's closing price of 7115.00 marks the highest close since August 28th. The bulls were in full control today, moving the market higher throughout the whole session. Closing above Thursday's high at 6985.00, the stock confirms its breakout through the prior session's high having traded £145.00 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 (DCC.L as at Sep 14, 2018):
Friday's trading range was £170.00 (2.44%), that's far above last trading month's daily average range of £111.50. Weekly volatility is also higher, being above the markets average with the monthly volatility being slightly above average.
Breaking through the key resistance level at 7075.00 today, it is now likely to act as support going forward. Prices are trading close to the key resistance level at 7170.00. After trading as low as 6960.00 during the day, the share found support at the 20-day moving average at 6979.75.
The trend is clearly bullish, showing an intact uptrend in the short, medium and long-term. The market managed to break above the 200-day moving average at 7036.95 today for the first time since August 28th.
Trading close to July's high at 7280.00 we could see further upside momentum if potential buy stops at the level get triggered.