LIN.DE rises to highest close since October 26, 2018


Linde AG (LIN.DE) Technical Analysis Report for Feb 13, 2019 | by Techniquant Editorial Team

Highlights

LIN.DE rises to highest close since October 26, 2018
LIN.DE closes higher for the 4th day in a row
LIN.DE ends the day indecisive

Overview

Moving higher for the 4th day in a row, LIN.DE finished Wednesday at 148.10 gaining €2.10 (1.44%). Today's close at 148.10 marks the highest recorded closing price since October 26, 2018. Ending the day with an indecisive close, neither buyers nor sellers were able to gain control during the session.

Daily Candlestick Chart (LIN.DE as at Feb 13, 2019):

Daily technical analysis candlestick chart for Linde AG (LIN.DE) as at Feb 13, 2019

Wednesday's trading range has been €2.20 (1.49%), that's slightly below the last trading month's daily average range of €2.43. Things look different on the weekly timeframe, where the market's trading range of the last week has been slightly above the market's average weekly trading range. The longer-term, monthly volatility is currently slightly higher than usual for LIN.DE.

Crossing above the upper Bollinger Band for the first time since February 5th, prices have shown unusually strong upward momentum in the short-term. This might either indicate a potential buying climax after which prices could head back down towards the mean of the Bollinger Bands at 141.80 or signal the beginning of a strong momentum breakout leading to even higher prices. The last time prices broke out above the upper Bollinger Band on February 5th, LIN.DE actually lost -1.34% on the following trading day.

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

Among the four market conditions that our pattern recognition engine identified today, the statistics for the Price Action based market condition "4 Consecutive Higher Closes" stand out. Its common bullish interpretation has been confirmed for Linde. Out of 78 times, LIN.DE closed higher 53.85% of the time on the next trading day after the market condition occurred. The optimal exit for swing trading this condition on the long side has been after 10 trading days, showing a win rate of 58.97% with an average market move of 0.64%.


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