LLC.AX closes within prior day's range
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.
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.
Despite a strong opening the market closed below the prior day's open and close, forming a bearish Engulfing Candle.
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.
The trend is clearly bullish, showing an intact uptrend in the short, medium and long-term.
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.
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
|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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