LLL ends the day on a bullish note closing near the high of the day

L-3 Communications Holdings (LLL) Technical Analysis Report for Sep 14, 2018

Highlights

LLL pushes through key resistance level
LLL dominated by bulls lifting the market higher throughout the day
LLL closes higher for the 3rd day in a row
LLL ends the day on a bullish note closing near the high of the day
LLL pushes through previous session high

TQ Sentiment

Report Sentiment: 66% Bullish
Technical Forecast:

Overview

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 chart for LLL

Volatility

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.

Support/Resistance

Breaking through the key resistance level at 214.35 today, it is now likely to act as support going forward.

Trend

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

Order Flow

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.

Conclusion

Both sentiments, the classical technical analysis and our quantitative statistics are in perfect alignment today showing a bullish sentiment for the next trading day.

Market Conditions for L-3 Communications Holdings

Condition Forecast Direction Win Rate Exit Day Events
4 Consecutive Higher Closes TQ Pro Members Only
Closed above last periods high TQ Pro Members Only
Bullish Spinning Top TQ Pro Members Only
More market conditions identified for TQ Pro members...
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