LLC.AX closes within prior day's range


Lend Lease Group (LLC.AX) Technical Analysis Report for May 18, 2018 [< 1 min read]
Highlights
Traders officially love to sell LLC.AX against 18.48 level
LLC.AX closes within previous day's range
TQ Sentiment
Report Sentiment: 50% Bearish
Technical Forecast:
Overview

LLC.AX finished the week 0.99% higher at 18.32 after losing A$0.07 (-0.38%) today on high volume. Closing within the prior day's range, prices failed to decisively move beyond the previous day's trading range.

Daily chart for LLC.AX
Volatility

Friday's trading range was A$0.22 (1.19%), that's slightly below last trading month's daily average range of A$0.24. Things look different on a weekly scale, where volatility is below the markets average with the monthly volatility being slightly below average.

Price Action

Despite a strong opening the market closed below the prior day's open and close, forming a bearish Engulfing Candle.

Support/Resistance

Prices are trading close to a key support level at 18.25. The stock was sold again around 18.48 after having seen highs at 18.48, 18.46 and 18.45 in the last three trading sessions. Obviously there is something going on at that level.

Trend

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

Order Flow

2,017's high at 18.74 is within reach and we could see further upside momentum should Lend Lease manage to break out past.

Conclusion

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
Condition Forecast Direction Win Avg Worst Best Events
Hanging Man TQ Pro Members Only
Bullish Bounce off SMA 20 TQ Pro Members Only
Bullish Intraday Reversal TQ Pro Members Only
Close near high of period TQ Pro Members Only
More market conditions identified for TQ Pro members...
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