LIN.DE rockets 1.15% closing €2.00 higher
Linde AG (LIN.DE) Technical Analysis Report for Sep 14, 2018 | by Techniquant Editorial Team
Moving higher for the 2nd day in a row, LIN.DE ended the week 1.09% higher at 176.00 after surging €2.00 (1.15%) today. This is the biggest single day gain in over a month. Today's closing price of 176.00 marks the highest close since August 6th. The bulls were in full control today, moving the market higher throughout the whole session. Closing above Thursday's high at 174.20, the share confirms its breakout through the prior session's high having traded €2.05 above it intraday. Ending with a strong close near the high of the day sets a bullish note for the next session.
Daily Candlestick Chart (LIN.DE as at Sep 14, 2018):
Friday's trading range was €3.00 (1.72%), that's far above last trading month's daily average range of €2.07. Weekly volatility is also higher, being slightly above the markets average with the monthly volatility being slightly below average.
Breaking through the key resistance level at 175.65 today, it is now likely to act as support going forward. Prices are trading close to the key resistance level at 177.20. After spiking up to 176.25 during the day, the stock found resistance at the 50-day moving average at 176.09.
The market shows strength in the short-term supported by its long-term uptrend with only the medium-term trend being bearish. Linde managed to break above the 20-day moving average at 174.38 today for the first time since September 3rd.
Market Conditions for LIN.DE as at Sep 14, 2018
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