LNK.AX climbs to highest close since May 9th

Link Admin HLDG (LNK.AX) Technical Analysis Report for Jul 13, 2018

Highlights

LNK.AX pushes through key resistance level
LNK.AX dominated by bulls lifting the market higher throughout the day
LNK.AX closes higher for the 3rd day in a row
LNK.AX rises to highest close since May 9th

TQ Sentiment

Report Sentiment:
50% Bullish
Technical Forecast:

Overview

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.

Daily chart for LNK.AX

Volatility

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.

Support/Resistance

Breaking through the key resistance level at 7.60 today, it is now likely to act as support going forward.

Trend

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.

Conclusion

While classical technical analysis indicates a neutral sentiment for the next trading day, our quantitative statistics show a different picture being slightly bullish.

Market Conditions for Link Admin HLDG

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