STJ.L rises to highest close since February 1st
St. James's Place plc (STJ.L) Technical Analysis Report for May 17, 2018 | by Techniquant Editorial Team
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 Candlestick Chart (STJ.L as at May 17, 2018):
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.
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.
The trend is clearly bullish, showing an intact uptrend in the short, medium and long-term.