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STJ.L rises to highest close since February 1st


Technical Analysis Report for STJ.L - May 17, 2018 [1 min read]
Highlights
STJ.L closes above its opening price after recovering from early selling pressure
STJ.L finds buyers at key support level
STJ.L closes higher for the 3rd day in a row
STJ.L ends the day on a bullish note closing near the high of the day
STJ.L pushes through previous session high
TQ Sentiment
Technical Forecast:
Overview

Moving higher for the 3rd day in a row, STJ.L ended Thursday at 1194.00 gaining £8.50 (0.72%). Today's closing price of 1194.00 marks the highest close since February 1st. Trading up to £4.50 lower after the open, the market managed to reverse during the session as bulls took control ending the day above its opening price. Closing above Wednesday's high at 1187.50, the stock confirms its breakout through the prior session's high having traded £6.50 above it intraday. Ending with a strong close near the high of the day sets a bullish note for the next session.

Daily chart for STJ.L
Volatility

Thursday's trading range was £13.00 (1.1%), that's below last trading month's daily average range of £19.70. Things look different on a weekly scale, where volatility is way below the markets average with the monthly volatility being slightly below average.

Support/Resistance

After trading as low as 1181.00 during the day, St. James's bounced off the key support level at 1183.50. The failure to close below the support might increase that levels importance as support going forward.

Trend

The trend is clearly bullish, showing an intact uptrend in the short, medium and long-term.

Conclusion

Both sentiments, the classical technical analysis and our quantitative statistics are in perfect alignment today showing a bullish sentiment for the next trading day.

Report Market Conditions
ConditionForecastDirectionWinAvgWorstBest
Bounced off Technical Support S1 TQ Pro Members Only
Closed above last periods high TQ Pro Members Only
3 Consecutive Higher Closes TQ Pro Members Only
Bullish Intraday Reversal TQ Pro Members Only
Up Close near high of period TQ Pro Members Only
More market conditions identified for TQ Pro members...
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