LIN.DE closes higher for the 2nd day in a row


Linde AG (LIN.DE) Technical Analysis Report for Jul 13, 2018 [1 min read]
Highlights
LIN.DE pushes through 200-day moving average
LIN.DE finds support at 200-day moving average
LIN.DE closes higher for the 2nd day in a row
LIN.DE runs into sellers again around 180.00
LIN.DE closes within previous day's range after lackluster session
TQ Sentiment
Report Sentiment: 0% Neutral
Technical Forecast:
Overview

Moving higher for the 2nd day in a row, LIN.DE ended the week -1.65% lower at 179.00 after edging higher €0.15 (0.08%) today. Closing within the previous day's range, prices failed to decisively move past the prior day's trading range in a lackluster session. Ending the day with an indecisive close, neither buyers nor sellers were able to gain control during the session.

Daily chart for LIN.DE
Volatility

Friday's trading range was €2.00 (1.12%), that's below last trading month's daily average range of €2.60. Things look different on a weekly scale, where volatility is slightly below the markets average with the monthly volatility being slightly below average.

Support/Resistance

Prices are trading close to the key resistance level at 180.50. After having been unable to move above 179.90 in the previous session, the stock ran into sellers again around the same price level today, failing to move higher than 180.00. After trading as low as 178.00 during the day, the share found support at the 200-day moving average at 179.00.

Trend

Linde shows strength in the short-term supported by its long-term uptrend with only the medium-term trend being bearish. The market managed to break above the 200-day moving average at 179.00 today for the first time since July 5th.

Order Flow

Selling might speed up should prices move below the nearby swing low at 176.75 where further sell stops could get activated. Further selling might move prices lower should the market test June's close-by low at 174.75.

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 Linde AG
ConditionForecastDirectionWinAvgWorstBestEvents
Bearish Break through SMA 200 TQ Pro Members Only
Close to Swing Low TQ Pro Members Only
Black Candle TQ Pro Members Only
Close to S1 Support TQ Pro Members Only
Bearish Break through SMA 20 TQ Pro Members Only
More market conditions identified for TQ Pro members...
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