LLL ends the day on a bullish note closing near the high of the day
L3 Technologies Inc. (LLL) Technical Analysis Report for Sep 14, 2018 | by Techniquant Editorial Team
Moving higher for the 3rd day in a row, LLL ended the week 2.94% higher at 216.17 after gaining $2.33 (1.09%) today. Today's closing price of 216.17 marks the highest close since January 29th. The bulls were in full control today, moving the market higher throughout the whole session. Closing above Thursday's high at 214.28, the share confirms its breakout through the previous session's high having traded $2.22 above it intraday. Ending with a strong close near the high of the day sets a bullish note for the next session.
Daily Candlestick Chart (LLL as at Sep 14, 2018):
Friday's trading range was $3.40 (1.59%), that's far above last trading month's daily average range of $2.49. Weekly volatility is also higher, being above the markets average with the monthly volatility being slightly below average.
Breaking through the key resistance level at 214.35 today, it is now likely to act as support going forward.
The trend is clearly bullish, showing an intact uptrend in the short, medium and long-term.
With prices trading close to this year's high at 218.71, upside momentum could accelerate should L-3 Communications be able to break out to new highs for the year.