FERG.L closes higher for the 2nd day in a row

Ferguson plc (FERG.L) Technical Analysis Report for Jul 13, 2018

Highlights

FERG.L pushes through key resistance level
FERG.L closes higher for the 2nd day in a row
FERG.L pushes through previous session high
FERG.L rises to highest close since Inception

TQ Sentiment

Report Sentiment:
50% Bullish
Technical Forecast:

Overview

Moving higher for the 2nd day in a row, FERG.L ended the week 3.09% higher at 6238.00 after gaining £90.00 (1.46%) today. Today's closing price of 6238.00 marks the highest close since Inception. Closing above Thursday's high at 6178.00, the share confirms its breakout through the previous session's high having traded £106.00 above it intraday.

Daily chart for FERG.L

Volatility

Friday's trading range was £106.00 (1.72%), that's slightly above last trading month's daily average range of £93.25. Weekly volatility is also higher, being slightly above the markets average with the monthly volatility being exactly the same as average.

Support/Resistance

Breaking through the key resistance level at 6185.00 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.

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 Ferguson plc

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