SHP.L closes higher for the 6th day in a row


Technical Analysis Report for SHP.L - May 17, 2018 [< 1 min read]
Highlights
SHP.L closes higher for the 6th day in a row
SHP.L finds buyers again around 4199.50
SHP.L rises to highest close since August 1, 2017
SHP.L closes within previous day's range after lackluster session
TQ Sentiment
Technical Forecast:
Overview

Moving higher for the 6th day in a row, SHP.L ended Thursday at 4218.00 edging higher £2.00 (0.05%). Today's closing price of 4218.00 marks the highest close since August 1, 2017. Closing within the prior day's range, prices failed to decisively move beyond the previous day's trading range in a lackluster session.

Daily chart for SHP.L
Volatility

Thursday's trading range was £59.50 (1.4%), that's below last trading month's daily average range of £123.59. Things look different on a weekly scale, where volatility is below the markets average with the monthly volatility being way below average.

Support/Resistance

After having been unable to move lower than 4192.00 in the prior session, the market found buyers again around the same price level today at 4199.50.

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 very bearish.

Report Market Conditions
ConditionForecastDirectionWinAvgWorstBest
Low close to previous low TQ Pro Members Only
6 Consecutive Higher Closes TQ Pro Members Only
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