REL.L closes higher for the 3rd day in a row

RELX Group (REL.L) Technical Analysis Report for Jul 13, 2018

Highlights

REL.L closes higher for the 3rd day in a row
REL.L pushes through previous session high
REL.L rises to highest close since January 5th

TQ Sentiment

Report Sentiment:
50% Bullish
Technical Forecast:
TQ Pro Only
See the overall Technical Analysis forecast for today.

Overview

Moving higher for the 3rd day in a row, REL.L ended the week 2.84% higher at 1702.50 after gaining £15.00 (0.89%) today. Today's closing price of 1702.50 marks the highest close since January 5th. Closing above Thursday's high at 1695.00, RELX Group confirms its breakout through the previous session's high having traded £21.00 above it intraday.

Daily chart for REL.L

Volatility

Friday's trading range was £22.00 (1.3%), that's slightly above last trading month's daily average range of £21.62. Weekly volatility is also higher, being above the markets average with the monthly volatility being above average.

Support/Resistance

Prices are trading close to a key support level at 1687.50.

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 1740.00, upside momentum might accelerate should the stock 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 bullish.

Market Conditions for RELX Group

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REL.L pushes through prior session high

Sep 24, 2018
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