EZJ.L unable to break through key resistance level


easyJet plc (EZJ.L) Technical Analysis Report for Jun 14, 2018 [1 min read]
Highlights
EZJ.L finds buyers at key support level
EZJ.L unable to break through key resistance level
EZJ.L closes higher for the 4th day in a row
EZJ.L ends the day on a bullish note closing near the high of the day
EZJ.L runs into sellers again around 1803.50
TQ Sentiment
Report Sentiment: 0% Neutral
Technical Forecast:
Overview

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.

Daily chart for EZJ.L
Volatility

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.

Support/Resistance

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.

Trend

The trend is clearly bullish, showing an intact uptrend in the short, medium and long-term.

Conclusion

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
Condition Forecast Direction Win Avg Worst Best Events
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
More market conditions identified for TQ Pro members...
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