NMC.L closes below its opening price unable to hold early session gains
NMC.L ended the week 3.56% higher at 4012.00 after losing £38.00 (-0.94%) today on high volume. Trading £32.00 higher after the open, the share was unable to hold its gains as the bears took control ending the day below its opening price. Closing within the previous day's range, prices failed to decisively move beyond the prior day's trading range. Ending the day with an indecisive close, neither buyers nor sellers were able to gain control during the session.
Friday's trading range was £60.00 (1.49%), that's slightly below last trading month's daily average range of £69.40. Things look different on a weekly scale, where volatility is above the markets average with the monthly volatility being slightly below average.
During the whole day, prices traded within the previous day's range, unable to trade above the prior day's high or below the previous day's low forming an Inside Bar. After moving higher in the prior session, NMC Health closed lower but above the previous day's open today, forming a bearish Harami Candle.
Prices are trading close to the key resistance level at 4070.00. After having been unable to move above 4070.00 in the prior session, the market ran into sellers again around the same price level today, failing to move higher than 4060.00.
The trend is clearly bullish, showing an intact uptrend in the short, medium and long-term.
Buying could accelerate should prices move above the close-by swing high at 4070.00 where further buy stops might get activated.
While classical technical analysis indicates a neutral sentiment for the next trading day, our quantitative statistics show a different picture being slightly bearish.
Market Conditions for NMC Health Plc
|Close to R1 Resistance||TQ Pro Members Only|
|Bearish Hikkake Pattern||TQ Pro Members Only|
|Bounced off Technical Resistance R1||TQ Pro Members Only|
|52 Week High||TQ Pro Members Only|
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