SMDS.L pushes through prior session high
Smith, D.S. (SMDS.L) Technical Analysis Report for Jul 13, 2018
Moving higher for the 2nd day in a row, SMDS.L finished the week -4.47% lower at 489.90 after gaining £5.60 (1.16%) today. Closing above Thursday's high at 487.00, the share confirms its breakout through the previous session's high having traded £8.50 above it intraday. Ending the day with an indecisive close, neither buyers nor sellers were able to gain control during the session.
Friday's trading range was £8.90 (1.82%), that's below last trading month's daily average range of £11.56. Things look different on a weekly scale, where volatility is above the markets average with the monthly volatility being above average.
Though still in a long-term uptrend, the short and medium-term trends both turned bearish already.
While classical technical analysis indicates a neutral sentiment for the next trading day, our quantitative statistics show a different picture being bullish.