NMC.L closes higher for the 4th day in a row


NMC Health Plc (NMC.L) Technical Analysis Report for Jun 14, 2018 [1 min read]
Highlights
NMC.L finds buyers at key support level
NMC.L closes higher for the 4th day in a row
NMC.L ends the day on a bullish note closing near the high of the day
NMC.L finds buyers again around 3618.00
NMC.L rises to highest close since May 25th
TQ Sentiment
Technical Forecast:
Overview

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 chart for NMC.L
Volatility

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.

Support/Resistance

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.

Trend

The trend is clearly bullish, showing an intact uptrend in the short, medium and long-term.

Order Flow

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.

Conclusion

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 NMC Health Plc
ConditionForecastDirectionWinAvgWorstBestEvents
Bearish Outside Bar TQ Pro Members Only
Close to R1 Resistance TQ Pro Members Only
Bearish Bounce off SMA 50 TQ Pro Members Only
Close to S1 Support TQ Pro Members Only
High close to previous High TQ Pro Members Only
More market conditions identified for TQ Pro members...
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