LSE.L ends the day on a bullish note closing near the high of the day
London Stock Exchange Group (LSE.L) Technical Analysis Report for Sep 14, 2018
LSE.L ended the week 3.14% higher at 4790.00 after gaining £42.00 (0.88%) today. Trading up to £36.00 lower after the open, the stock managed to reverse during the session as bulls took control ending the day above its opening price. Closing within the prior day's range, prices failed to decisively move beyond the previous day's trading range in a lackluster session. Ending with a strong close near the high of the day sets a bullish note for the next session.
Friday's trading range was £51.00 (1.07%), that's below last trading month's daily average range of £65.95. Things look different on a weekly scale, where volatility is above the markets average with the monthly volatility being way above average. Prices continued to consolidate within a tight trading range between 4739.00 and 4814.00 which it has been in now for the last three days.
Prices are trading close to the key resistance level at 4814.00. London Stock found buyers again today around 4739.00 for the third trading day in a row after having found demand at 4745.00 in the prior session and at 4743.00 two days ago.
The trend is clearly bullish, showing an intact uptrend in the short, medium and long-term.
Buying might speed up should prices move above the close-by swing high at 4814.00 where further buy stops could get activated.
While classical technical analysis indicates a neutral sentiment for the next trading day, our quantitative statistics show a different picture being bullish.
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