SMIN.L closes higher for the 3rd day in a row
Moving higher for the 3rd day in a row, SMIN.L ended Thursday at 1689.50 gaining £21.50 (1.29%). Today's closing price of 1689.50 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 1672.00, the market confirms its breakout through the prior session's high having traded £17.50 above it intraday. Ending with a strong close near the high of the day sets a bullish note for the next session.
Thursday's trading range was £34.00 (2.05%), that's far above last trading month's daily average range of £21.55. Things look different on a weekly scale, where volatility is below the markets average with the monthly volatility being 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. Even with a weak opening the share managed to close above the previous day's open and close, forming a bullish Engulfing Candle.
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 1697.00, upside momentum could accelerate should the stock be able to break out to new highs for the year.
Both sentiments, the classical technical analysis and our quantitative statistics are in perfect alignment today showing a bullish sentiment for the next trading day.
Market Conditions for Smiths Group plc
|RSI(2) above 80||TQ Pro Members Only|
|Close to S1 Support||TQ Pro Members Only|
|Close to R1 Resistance||TQ Pro Members Only|
|3 Consecutive Higher Closes||TQ Pro Members Only|
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