LIN.DE closes higher for the 3rd day in a row
Linde AG (LIN.DE) Technical Analysis Report for May 17, 2018 | by Techniquant Editorial Team
Moving higher for the 3rd day in a row, LIN.DE ended Thursday at 184.15 gaining €2.15 (1.18%). Today's closing price of 184.15 marks the highest close since March 12th. The bulls were in full control today, moving the market higher throughout the whole session. Closing above Wednesday's high at 183.45, the stock confirms its breakout through the prior session's high having traded €1.55 above it intraday.
Daily Candlestick Chart (LIN.DE as at May 17, 2018):
Thursday's trading range was €3.95 (2.18%), that's slightly below last trading month's daily average range of €4.36. Things look different on a weekly scale, where volatility is below the markets average with the monthly volatility being slightly above average.
Unable to break through the key technical resistance level at 184.90, the market closed below it after spiking as high as 185.00 during the day. The failure to close above the resistance might increase that levels importance as resistance going forward.
The trend is clearly bullish, showing an intact uptrend in the short, medium and long-term.
Trading close to March's high at 187.20 we could see further upside momentum if potential buy stops at the level get activated.