LIN.DE rockets 1.15% closing €2.00 higher

Linde AG (LIN.DE) Technical Analysis Report for Sep 14, 2018

Highlights

LIN.DE rallies 1.15% closing €2.00 higher
LIN.DE pushes through key resistance level
LIN.DE dominated by bulls lifting the market higher throughout the day
LIN.DE pushes through 20-day moving average
LIN.DE closes higher for the 2nd day in a row

TQ Sentiment

Report Sentiment: 60% Bullish
Technical Forecast:

Overview

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 chart for LIN.DE

Volatility

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.

Support/Resistance

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.

Trend

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.

Conclusion

Both sentiments, the classical technical analysis and our quantitative statistics are in perfect alignment today showing a slightly bullish sentiment for the next trading day.

Market Conditions for Linde AG

Condition Forecast Direction Win Rate Exit Day Events
Close near high of period TQ Pro Members Only
Bullish Break through SMA 20 TQ Pro Members Only
Low close to previous two Lows TQ Pro Members Only
Low close to previous low TQ Pro Members Only
Close to Swing High TQ Pro Members Only
More market conditions identified for TQ Pro members...
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