NXT.L pushes through prior session high

Next plc (NXT.L) Technical Analysis Report for Jul 13, 2018

Highlights

NXT.L unable to break through key resistance level
NXT.L pushes through previous session high
NXT.L rises to highest close since June 15th
NXT.L ends the day indecisive

TQ Sentiment

Report Sentiment:
Neutral
Technical Forecast:

Overview

NXT.L ended the week 5.28% higher at 6106.00 after gaining £58.00 (0.96%) today. Today's closing price of 6106.00 marks the highest close since June 15th. Closing above Thursday's high at 6062.00, Next plc confirms its breakout through the previous session's high having traded £162.00 above it intraday. Ending the day with an indecisive close, neither buyers nor sellers were able to gain control during the session.

Daily chart for NXT.L

Volatility

Friday's trading range was £156.00 (2.57%), that's far above last trading month's daily average range of £110.10. Weekly volatility is also higher, being way above the markets average with the monthly volatility being slightly above average.

Support/Resistance

Unable to break through the key technical resistance level at 6118.00, the stock closed below it after spiking as high as 6224.00 during the day. The failure to close above the resistance might increase that levels importance as resistance going forward.

Trend

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

Conclusion

While classical technical analysis indicates a neutral sentiment for the next trading day, our quantitative statistics show a different picture being bearish.

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