HLMA.L climbs to highest close since Inception


Halma (HLMA.L) Technical Analysis Report for Jun 14, 2018 [1 min read]
Highlights
HLMA.L rallies 1.46% closing £21.00 higher
HLMA.L closes higher for the 10th day in a row
HLMA.L ends the day on a bullish note closing near the high of the day
HLMA.L finds buyers again around 1420.00
HLMA.L pushes through previous session high
TQ Sentiment
Report Sentiment: 62% Bullish
Technical Forecast:
Overview

Moving higher for the 10th day in a row, HLMA.L ended Thursday at 1456.00 surging £21.00 (1.46%). This is the biggest single day gain in over three weeks. Today's closing price of 1456.00 marks the highest close since Inception. Closing above Wednesday's high at 1448.00, the market confirms its breakout through the previous session's high having traded £14.00 above it intraday. Ending with a strong close near the high of the day sets a bullish note for the next session.

Daily chart for HLMA.L
Volatility

Thursday's trading range was £42.00 (2.94%), that's far above last trading month's daily average range of £23.50. Weekly volatility is also higher, being way above the markets average with the monthly volatility being above average.

Price Action

In a volatile session, prices traded above the prior day's high as well as below the previous day's low, forming a bullish Outside Bar.

Support/Resistance

After having been unable to move lower than 1423.00 in the prior session, Halma found buyers again around the same price level today at 1420.00.

Trend

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

Order Flow

Buying could accelerate should prices move above the close-by swing high at 1470.00 where further buy stops might get triggered.

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 Halma
Condition Forecast Direction Win Avg Worst Best Events
Close to R1 Resistance TQ Pro Members Only
Decisive Up Move TQ Pro Members Only
White Candle TQ Pro Members Only
Close to S1 Support TQ Pro Members Only
Close to Swing High TQ Pro Members Only
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