EZJ.L unable to break through key resistance level
Moving higher for the 4th day in a row, EZJ.L ended Thursday at 1796.00 gaining £13.50 (0.76%). Today's closing price of 1796.00 marks the highest close since November 11, 2015. Closing within the prior day's range, prices failed to decisively move past the previous day's trading range. Ending with a strong close near the high of the day sets a bullish note for the next session.
Thursday's trading range was £42.50 (2.4%), that's above last trading month's daily average range of £35.05. Weekly volatility is also higher, being above the markets average with the monthly volatility being way below average.
After trading as low as 1761.00 during the day, the market bounced off the key support level at 1765.00. The failure to close below the support could increase that levels importance as support going forward. Unable to break through the key technical resistance level at 1796.50, easyJet closed below it after spiking as high as 1803.50 during the day. The failure to close above the resistance might increase that levels importance as resistance going forward. After having been unable to move above 1797.50 in the prior session, the share ran into sellers again around the same price level today, failing to move higher than 1803.50.
The trend is clearly bullish, showing an intact uptrend in the short, medium and long-term.
While classical technical analysis indicates a neutral sentiment for the next trading day, our quantitative statistics show a different picture being bearish.
Market Conditions for easyJet plc
|Down Close Near Low of Period||TQ Pro Members Only|
|Close to Swing High||TQ Pro Members Only|
|Close near low of period||TQ Pro Members Only|
|Close to Swing Low||TQ Pro Members Only|
|Bearish Intraday Reversal||TQ Pro Members Only|
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