TUI.L rises to highest close since June 4th
TUI AG (TUI.L) Technical Analysis Report for Jun 14, 2018 | by Techniquant Editorial Team
Moving higher for the 2nd day in a row, TUI.L finished Thursday at 1764.50 gaining £18.50 (1.06%). Today's closing price of 1764.50 marks the highest close since June 4th. The bulls were in full control today, moving the market higher throughout the whole session. Closing above Wednesday's high at 1759.00, the share confirms its breakout through the previous session's high having traded £12.00 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 (TUI.L as at Jun 14, 2018):
Thursday's trading range was £38.50 (2.22%), that's far above last trading month's daily average range of £27.73. Things look different on a weekly scale, where volatility is slightly below the markets average with the monthly volatility being way below average.
In a volatile session, prices traded above the prior day's high as well as below the previous day's low, forming a bullish Outside Bar.
Breaking through the key resistance level at 1753.00 today, it is now likely to act as support going forward. TUI found buyers again today around 1732.50 for the third trading day in a row after having found demand at 1733.00 in the prior session and at 1733.50 two days ago.
The trend is clearly bullish, showing an intact uptrend in the short, medium and long-term. The market managed to break above the 20-day moving average at 1751.03 today for the first time since June 4th.
With prices trading close to this year's high at 1816.00, upside momentum might accelerate should the stock be able to break out to new highs for the year. As prices are trading close to June's high at 1776.00, upside momentum could speed up should TUI.L mark new highs for the month.