HLMA.L closes below its opening price unable to hold early session gains


Halma (HLMA.L) Technical Analysis Report for Jul 13, 2018 [1 min read]
Highlights
HLMA.L closes below its opening price unable to hold early session gains
HLMA.L unable to break through key resistance level
HLMA.L closes higher for the 4th day in a row
HLMA.L rises to highest close since June 29th
HLMA.L closes within previous day's range
TQ Sentiment
Report Sentiment: 25% Bearish
Technical Forecast:
Overview

Moving higher for the 4th day in a row, HLMA.L ended the week 2.01% higher at 1367.00 after gaining £3.00 (0.22%) today. Today's closing price of 1367.00 marks the highest close since June 29th. Trading £20.00 higher after the open, Halma was unable to hold its gains as the bears took control ending the day below its opening price. Closing within the prior day's range, prices failed to decisively move beyond the previous day's trading range. Ending the day with an indecisive close, neither buyers nor sellers were able to gain control during the session.

Daily chart for HLMA.L
Volatility

Friday's trading range was £30.00 (2.18%), that's far above last trading month's daily average range of £22.05. Weekly volatility is also higher, being slightly above the markets average with the monthly volatility being slightly below average.

Support/Resistance

Prices are trading close to a key support level at 1349.00. Unable to break through the key technical resistance level at 1377.00, the stock closed below it after spiking as high as 1395.00 during the day. The failure to close above the resistance might increase that levels importance as resistance going forward.

Trend

Although the share is currently in a short-term down trend, this could just be a correction, as the medium and long term trends are both positive.

Order Flow

Selling might speed up should prices move below the nearby swing low at 1344.00 where further sell stops could get activated.

Conclusion

While classical technical analysis indicates a neutral sentiment for the next trading day, our quantitative statistics show a different picture being bullish.

Market Conditions for Halma
ConditionForecastDirectionWinAvgWorstBestEvents
High close to previous High TQ Pro Members Only
Close to S1 Support TQ Pro Members Only
Close to Swing High TQ Pro Members Only
Bullish Intraday Reversal TQ Pro Members Only
More market conditions identified for TQ Pro members...
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