JMAT.L pushes through 20-day moving average


Johnson Matthey (JMAT.L) Technical Analysis Report for Jul 13, 2018 [1 min read]
Highlights
JMAT.L rallies 2.37% closing £85.00 higher
JMAT.L closes above its opening price after recovering from early selling pressure
JMAT.L pushes through 20-day moving average
JMAT.L finds support at 50-day moving average
JMAT.L closes higher for the 2nd day in a row
TQ Sentiment
Report Sentiment: 66% Bullish
Technical Forecast:
Overview

Moving higher for the 2nd day in a row, JMAT.L ended the week 2.72% higher at 3665.00 after surging £85.00 (2.37%) today. This is the biggest single day gain in over a month. Today's closing price of 3665.00 marks the highest close since June 27th. Trading up to £34.00 lower after the open, the share managed to reverse during the session as bulls took control ending the day above its opening price. Closing above Thursday's high at 3589.00, the market confirms its breakout through the previous session's high having traded £80.00 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 JMAT.L
Volatility

Friday's trading range was £93.00 (2.58%), that's above last trading month's daily average range of £70.00. Weekly volatility is also higher, being slightly above the markets average with the monthly volatility being below average.

Support/Resistance

Prices are trading close to the key resistance level at 3698.00. After trading as low as 3576.00 during the day, the stock found support at the 50-day moving average at 3585.76.

Trend

The trend is clearly bullish, showing an intact uptrend in the short, medium and long-term. Johnson Matthey managed to break above the 20-day moving average at 3621.20 today for the first time since May 31st.

Conclusion

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 Johnson Matthey
ConditionForecastDirectionWinAvgWorstBestEvents
Close to Swing Low TQ Pro Members Only
Close to S1 Support TQ Pro Members Only
Closed below last periods low TQ Pro Members Only
Close to Swing High TQ Pro Members Only
2 Consecutive Lower Closes TQ Pro Members Only
More market conditions identified for TQ Pro members...
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