KGF.L dominated by bulls lifting the market higher throughout the day


Kingfisher plc (KGF.L) Technical Analysis Report for Jun 14, 2018 [< 1 min read]
Highlights
KGF.L pushes through key resistance level
KGF.L dominated by bulls lifting the market higher throughout the day
KGF.L pushes through previous session high
KGF.L rises to highest close since March 21st
TQ Sentiment
Report Sentiment: 80% Bullish
Technical Forecast:
Overview

KGF.L ended Thursday at 314.50 gaining £5.10 (1.65%). Today's closing price of 314.50 marks the highest close since March 21st. The bulls were in full control today, moving the market higher throughout the whole session. Closing above Wednesday's high at 313.00, the stock confirms its breakout through the prior session's high having traded £4.00 above it intraday.

Daily chart for KGF.L
Volatility

Thursday's trading range was £10.20 (3.32%), that's far above last trading month's daily average range of £6.70. Weekly volatility is also higher, being slightly above the markets average with the monthly volatility being slightly above average.

Price Action

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

Support/Resistance

Breaking through the key resistance level at 309.80 today, it is now likely to act as support going forward.

Trend

Though still in a long-term downtrend, the short and medium-term trends both turned bullish already.

Conclusion

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

Market Conditions for Kingfisher plc
Condition Forecast Direction Win Avg Worst Best Events
3 Consecutive Lower Closes TQ Pro Members Only
White Candle TQ Pro Members Only
52 Week Low TQ Pro Members Only
Close near high of period TQ Pro Members Only
More market conditions identified for TQ Pro members...
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