LSE.L finds buyers around 4480.00 for the third day in a row
LSE.L finished Thursday at 4490.00 losing £24.00 (-0.53%) on high volume. Today's closing price of 4490.00 marks the lowest close since June 1st. Closing within the previous day's range, prices failed to decisively move beyond the prior day's trading range in a lackluster session. Ending the day with an indecisive close, neither buyers nor sellers were able to gain control during the session.
Thursday's trading range was £42.00 (0.94%), that's below last trading month's daily average range of £65.20. Things look different on a weekly scale, where volatility is above the markets average with the monthly volatility being below average. Prices continued to consolidate within a tight trading range between 4480.00 and 4558.00 which it has been in now for the last three days.
Prices are trading close to a key support level at 4474.00. The stock found buyers again today around 4480.00 for the third trading day in a row after having found demand at 4487.00 in the previous session and at 4489.00 two days ago. After spiking up to 4522.00 during the day, the market found resistance at the 20-day moving average at 4506.45.
The trend is clearly bullish, showing an intact uptrend in the short, medium and long-term. London Stock broke below the 20-day moving average at 4506.45 today for the first time since June 12th.
While classical technical analysis indicates a neutral sentiment for the next trading day, our quantitative statistics show a different picture being very bullish.
Market Conditions for London Stock Exchange Group
|Bearish Break through SMA 50||TQ Pro Members Only|
|Down Close Near Low of Period||TQ Pro Members Only|
|Bearish Outside Bar||TQ Pro Members Only|
|Close to R1 Resistance||TQ Pro Members Only|
|Closed below last periods low||TQ Pro Members Only|
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