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


RELX Group (REL.L) Technical Analysis Report for Jul 13, 2018 [< 1 min read]
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:
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
ConditionForecastDirectionWinAvgWorstBestEvents
4 Consecutive Higher Closes TQ Pro Members Only
Last Engulfing Top Pattern TQ Pro Members Only
Close to Swing High TQ Pro Members Only
Bullish Outside Bar TQ Pro Members Only
Low close to previous low TQ Pro Members Only
More market conditions identified for TQ Pro members...
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Latest Report:

REL.L stuck within tight trading range

Jul 20, 2018
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