LLC.AX finds support at 20-day moving average
LLC.AX finished the week -1.62% lower at 20.04 after gaining A$0.10 (0.5%) today. Closing within the prior day's range, prices failed to decisively move past the previous day's trading range. Ending the day with an indecisive close, neither buyers nor sellers were able to gain control during the session.
Friday's trading range was A$0.24 (1.2%), that's slightly below last trading month's daily average range of A$0.28. Things look different on a weekly scale, where volatility is slightly below the markets average with the monthly volatility being below average.
Prices are trading close to the key resistance level at 20.18. After having been unable to move lower than 19.84 in the prior session, Lend Lease found buyers again around the same price level today at 19.86. After trading as low as 19.86 during the day, the share found support at the 20-day moving average at 19.93.
The trend is clearly bullish, showing an intact uptrend in the short, medium and long-term.
Selling might accelerate should prices move below the close-by swing low at 19.84 where further sell stops could get activated.
While classical technical analysis indicates a neutral sentiment for the next trading day, our quantitative statistics show a different picture being bullish.
Market Conditions for Lend Lease Group
|White Candle||TQ Pro Members Only|
|Close to S1 Support||TQ Pro Members Only|
|Bearish Bounce off SMA 20||TQ Pro Members Only|
|2 Consecutive Lower Closes||TQ Pro Members Only|
|RSI(2) below 20||TQ Pro Members Only|
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