LLC.AX closes within prior day's range
Lend Lease Group (LLC.AX) Technical Analysis Report for May 18, 2018 | by Techniquant Editorial Team
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 Candlestick Chart (LLC.AX as at May 18, 2018):
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.