III.L surges 1.46% closing £13.40 higher
3i (III.L) Technical Analysis Report for Sep 14, 2018
Moving higher for the 4th day in a row, III.L finished the week 1.88% higher at 929.80 after surging £13.40 (1.46%) today. This is the biggest single day gain in over a month. Today's closing price of 929.80 marks the highest close since August 14th. Trading up to £5.00 lower after the open, the stock managed to reverse during the session as bulls took control ending the day above its opening price. Closing above Thursday's high at 919.60, 3i confirms its breakout through the previous session's high having traded £10.40 above it intraday. Ending with a strong close near the high of the day sets a bullish note for the next session.
Friday's trading range was £11.80 (1.28%), that's slightly below last trading month's daily average range of £13.50. Things look different on a weekly scale, where volatility is slightly above the markets average with the monthly volatility being below average.
Breaking through the key resistance level at 924.60 today, it is now likely to act as support going forward. Prices are trading close to the key resistance level at 938.80. After trading as low as 918.20 during the day, the share found support at the 200-day moving average at 923.06.
The trend is clearly bullish, showing an intact uptrend in the short, medium and long-term. The market managed to break above the 200-day moving average at 923.06 today for the first time since August 16th.
Both sentiments, the classical technical analysis and our quantitative statistics are in perfect alignment today showing a bullish sentiment for the next trading day.
Market Conditions for 3i
|Condition||Forecast||Direction||Direction||Win Rate||Win Rate||Exit Day||Exit Day||Events|
|5 Consecutive Higher Closes||TQ Pro Members Only|
|Closed above last periods high||TQ Pro Members Only|
|Bullish Bounce off SMA 50||TQ Pro Members Only|
|Bearish Bounce off SMA 100||TQ Pro Members Only|
|Bounced off Technical Support S1||TQ Pro Members Only|
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