EVR.L pushes through 20-day moving average


Evraz (EVR.L) Technical Analysis Report for Jul 13, 2018 [< 1 min read]
Highlights
EVR.L pushes through key resistance level
EVR.L pushes through 20-day moving average
EVR.L closes higher for the 2nd day in a row
EVR.L pushes through previous session high
TQ Sentiment
Report Sentiment: 60% Bullish
Technical Forecast:
Overview

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 chart for EVR.L
Volatility

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.

Support/Resistance

Breaking through the key resistance level at 517.20 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. The share managed to break above the 20-day moving average at 512.17 today for the first time since July 9th.

Order Flow

Buying could accelerate should prices move above the nearby swing high at 530.00 where further buy stops might get activated.

Conclusion

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 Evraz
ConditionForecastDirectionWinAvgWorstBestEvents
Rickshaw-Man TQ Pro Members Only
Close to Swing Low TQ Pro Members Only
Doji TQ Pro Members Only
Close to S1 Support TQ Pro Members Only
Long-Legged Doji TQ Pro Members Only
More market conditions identified for TQ Pro members...
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