SMIN.L pops to highest close since September 6th

Smiths Group plc (SMIN.L) Technical Analysis Report for Sep 14, 2018 | by Techniquant Editorial Team


SMIN.L runs into sellers around 1584.00 for the third day in a row
SMIN.L dominated by bulls lifting the market higher throughout the day
SMIN.L rises to highest close since September 6th
SMIN.L closes within previous day's range


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.

Daily Candlestick Chart (SMIN.L as at Sep 14, 2018):

Daily technical analysis candlestick chart for Smiths Group plc (SMIN.L) as at Sep 14, 2018

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.

Market Conditions for SMIN.L as at Sep 14, 2018

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