LNK.AX climbs to highest close since May 9th
Link Admin HLDG (LNK.AX) Technical Analysis Report for Jul 13, 2018
Moving higher for the 3rd day in a row, LNK.AX ended the week 1.59% higher at 7.65 after gaining A$0.06 (0.79%) today. Today's closing price of 7.65 marks the highest close since May 9th. The bulls were in full control today, moving the market higher throughout the whole session.
Friday's trading range was A$0.14 (1.85%), that's slightly below last trading month's daily average range of A$0.16. Things look different on a weekly scale, where volatility is slightly above the markets average with the monthly volatility being slightly below average.
Breaking through the key resistance level at 7.60 today, it is now likely to act as support going forward.
Although Link Admin is experiencing a short-term up trend, this might just be a correction, as both the medium and long term trends are still in negative territory.
While classical technical analysis indicates a neutral sentiment for the next trading day, our quantitative statistics show a different picture being slightly bullish.