SMIN.L pops to highest close since September 6th
Smiths Group plc (SMIN.L) Technical Analysis Report for Sep 14, 2018
SMIN.L ended the week 0.64% higher at 1579.50 after gaining £15.00 (0.96%) today. Today's closing price of 1579.50 marks the highest close since September 6th. The bulls were in full control today, moving the market higher throughout the whole session. Closing within the prior day's range, prices failed to decisively move beyond the previous day's trading range.
Friday's trading range was £17.50 (1.12%), that's slightly below last trading month's daily average range of £22.35. Things look different on a weekly scale, where volatility is slightly below the markets average with the monthly volatility being above average.
Prices are trading close to the key resistance level at 1585.00. The share ran into sellers again today around 1584.00 for the third trading day in a row after having found sellers at 1584.00 in the prior session and at 1580.50 two days ago.
The trend is clearly bearish, showing an intact downtrend in the short, medium and long-term.
While classical technical analysis indicates a neutral sentiment for the next trading day, our quantitative statistics show a different picture being bullish.
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