LSE.L finds buyers around 4480.00 for the third day in a row

London Stock Exchange Group (LSE.L) Technical Analysis Report for Jun 14, 2018 | by Techniquant Editorial Team


LSE.L finds buyers around 4480.00 for the third day in a row
LSE.L breaks below 20-day moving average
LSE.L fails to close above 20-day moving average
LSE.L stuck within tight trading range
LSE.L falls to lowest close since June 1st


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.

Daily Candlestick Chart (LSE.L as at Jun 14, 2018):

Daily technical analysis candlestick chart for London Stock Exchange Group (LSE.L) as at Jun 14, 2018

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.

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