LIN.DE closes higher for the 3rd day in a row


Linde AG (LIN.DE) Technical Analysis Report for May 17, 2018 [< 1 min read]
Highlights
LIN.DE dominated by bulls lifting the market higher throughout the day
LIN.DE unable to break through key resistance level
LIN.DE closes higher for the 3rd day in a row
LIN.DE pushes through previous session high
LIN.DE rises to highest close since March 12th
TQ Sentiment
Report Sentiment: 40% Bullish
Technical Forecast:
Overview

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 chart for LIN.DE
Volatility

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.

Support/Resistance

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.

Trend

The trend is clearly bullish, showing an intact uptrend in the short, medium and long-term.

Order Flow

Trading close to March's high at 187.20 we could see further upside momentum if potential buy stops at the level get activated.

Conclusion

While classical technical analysis indicates a neutral sentiment for the next trading day, our quantitative statistics show a different picture being bearish.

Market Conditions for Linde AG
ConditionForecastDirectionWinAvgWorstBestEvents
Bearish Bounce off SMA 50 TQ Pro Members Only
Rickshaw-Man TQ Pro Members Only
Bullish Break through SMA 20 TQ Pro Members Only
Close to Swing Low TQ Pro Members Only
High close to previous High TQ Pro Members Only
More market conditions identified for TQ Pro members...
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