SMDS.L pushes through previous session high
Smith, D.S. (SMDS.L) Technical Analysis Report for Jun 14, 2018 | by Techniquant Editorial Team
Moving higher for the 2nd day in a row, SMDS.L finished Thursday at 579.20 gaining £8.40 (1.47%). Today's closing price of 579.20 marks the highest close since Inception. The bulls were in full control today, moving the market higher throughout the whole session. Closing above Wednesday's high at 574.00, the market confirms its breakout through the prior session's high having traded £6.20 above it intraday. Ending with a strong close near the high of the day sets a bullish note for the next session.
Daily Candlestick Chart (SMDS.L as at Jun 14, 2018):
Thursday's trading range was £18.40 (3.25%), that's far above last trading month's daily average range of £9.53. Weekly volatility is also higher, being slightly above the markets average with the monthly volatility being slightly below average.
In a volatile session, prices traded above the previous day's high as well as below the prior day's low, forming a bullish Outside Bar.
Prices are trading close to a key support level at 570.40.
The trend is clearly bullish, showing an intact uptrend in the short, medium and long-term.
With prices trading close to this year's high at 583.00, upside momentum could speed up should the stock be able to break out to new highs for the year.