EVR.L pushes through 20-day moving average
Evraz (EVR.L) Technical Analysis Report for Jul 13, 2018 | by Techniquant Editorial Team
Moving higher for the 2nd day in a row, EVR.L finished the week 2.35% higher at 522.00 after gaining £10.40 (2.03%) today. Closing above Thursday's high at 513.20, the stock confirms its breakout through the previous session's high having traded £13.40 above it intraday.
Daily Candlestick Chart (EVR.L as at Jul 13, 2018):
Friday's trading range was £12.20 (2.36%), that's far below last trading month's daily average range of £17.48. Things look different on a weekly scale, where volatility is slightly below the markets average with the monthly volatility being way below average.
Breaking through the key resistance level at 517.20 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. The share managed to break above the 20-day moving average at 512.17 today for the first time since July 9th.
Buying could accelerate should prices move above the nearby swing high at 530.00 where further buy stops might get activated.