LAND.L ends the day on a bullish note closing near the high of the day


Land Securities (LAND.L) Technical Analysis Report for Jun 14, 2018 [1 min read]
Highlights
LAND.L pushes through key resistance level
LAND.L pushes through 100-day moving average
LAND.L ends the day on a bullish note closing near the high of the day
LAND.L pushes through previous session high
LAND.L rises to highest close since May 22nd
TQ Sentiment
Technical Forecast:
Overview

LAND.L finished Thursday at 953.70 gaining £8.00 (0.85%) on high volume. Today's closing price of 953.70 marks the highest close since May 22nd. Closing above Wednesday's high at 952.70, the market confirms its breakout through the previous session's high having traded £3.90 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 LAND.L
Volatility

Thursday's trading range was £17.60 (1.87%), that's above last trading month's daily average range of £12.38. Things look different on a weekly scale, where volatility is slightly below the markets average with the monthly volatility being below 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

Breaking through the key resistance level at 946.70 today, it is now likely to act as support going forward. Prices are trading close to the key resistance level at 962.10.

Trend

While still in a long-term downtrend, the short and medium-term trends both turned bullish already. The stock managed to break above the 100-day moving average at 950.68 today for the first time since May 21st.

Order Flow

Buying could speed up should prices move above the close-by swing high at 963.00 where further buy stops might get activated.

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 Land Securities
ConditionForecastDirectionWinAvgWorstBestEvents
Bearish Break through SMA 50 TQ Pro Members Only
Close to R1 Resistance TQ Pro Members Only
Bearish Break through SMA 100 TQ Pro Members Only
Closed below last periods low TQ Pro Members Only
Close to S1 Support TQ Pro Members Only
More market conditions identified for TQ Pro members...
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