NMC.L closes higher for the 4th day in a row
NMC Health Plc (NMC.L) Technical Analysis Report for Jun 14, 2018 | by Techniquant Editorial Team
Moving higher for the 4th day in a row, NMC.L finished Thursday at 3684.00 gaining £52.00 (1.43%). Today's closing price of 3684.00 marks the highest close since May 25th. Closing within the prior day's range, prices failed to decisively move beyond the previous day's trading range. Ending with a strong close near the high of the day sets a bullish note for the next session.
Daily Candlestick Chart (NMC.L as at Jun 14, 2018):
Thursday's trading range was £82.00 (2.22%), that's slightly below last trading month's daily average range of £92.90. Things look different on a weekly scale, where volatility is above the markets average with the monthly volatility being above average.
After trading as low as 3618.00 during the day, the market bounced off the key support level at 3630.00. The failure to close below the support might increase that levels importance as support going forward. Prices are trading close to the key resistance level at 3718.00. After having been unable to move lower than 3612.00 in the prior session, the stock found buyers again around the same price level today at 3618.00.
The trend is clearly bullish, showing an intact uptrend in the short, medium and long-term.
With prices trading close to this year's high at 3858.00, upside momentum could accelerate should NMC Health be able to break out to new highs for the year.