AAL.L falls to lowest close since August 2nd


Anglo American plc (AAL.L) Technical Analysis Report for Aug 10, 2018 [1 min read]
Highlights
AAL.L breaks below 20-day moving average
AAL.L closes below its opening price unable to hold early session gains
AAL.L finds buyers at key support level
AAL.L finds support at 200-day moving average
AAL.L closes lower for the 3rd day in a row
TQ Sentiment
Report Sentiment: 37% Bearish
Technical Forecast:
Overview

Moving lower for the 3rd day in a row, AAL.L ended the week -1.49% lower at 1667.60 after losing £44.00 (-2.57%) today. Today's closing price of 1667.60 marks the lowest close since August 2nd. Trading £17.80 higher after the open, Anglo American was unable to hold its gains as the bears took control ending the day below its opening price. Closing below Thursday's low at 1711.00, the market confirms its breakout through the previous session's low having traded £56.80 below it intraday.

Daily chart for AAL.L
Volatility

Friday's trading range was £47.20 (2.8%), that's slightly below last trading month's daily average range of £49.51. Things look different on a weekly scale, where volatility is slightly below the markets average with the monthly volatility being slightly above average.

Support/Resistance

After trading as low as 1654.20 during the day, the share bounced off the key support level at 1663.20. The failure to close below the support might increase that levels importance as support going forward. After trading as low as 1654.20 during the day, the stock found support at the 200-day moving average at 1659.13.

Trend

The trend is clearly bearish, showing an intact downtrend in the short, medium and long-term. AAL.L broke below the 20-day moving average at 1679.20 today for the first time since August 2nd.

Order Flow

Selling could speed up should prices move below the close-by swing low at 1639.60 where further sell stops might get triggered. Further selling could move prices lower should the market test July's nearby low at 1580.60.

Conclusion

While classical technical analysis indicates a neutral sentiment for the next trading day, our quantitative statistics show a different picture being bullish.

Market Conditions for Anglo American plc
Condition Forecast Direction Win Avg Worst Best Events
Close to R1 Resistance TQ Pro Members Only
Homing Pigeon TQ Pro Members Only
Bearish Spinning Top TQ Pro Members Only
Bearish Intraday Reversal TQ Pro Members Only
More market conditions identified for TQ Pro members...
Learn more about TQ Pro
Trending Assets

Upgrade your trading!

Get the stats behind the charts

Find out what happened when Anglo American plc traded like this in the past. See the odds for each technical pattern with expected gain and loss.

Signup
Stocks Top Movers
ETHUSD 285.726.43 2.30%
INDU 25,558.73396.32 1.58%
CRUDE 65.450.55 0.85%
CAC 5,349.0243.80 0.83%
SPX 2,840.6922.32 0.79%
DXY 96.535-0.045 -0.05%
GOLD 1,181.0-0.8 -0.07%
NATGAS 2.911-0.028 -0.95%
Start your day with the facts moving the markets
By clicking "Subscribe", you agree to our terms and privacy policy.

Related Stocks

ABBV 10 day candlestick chart for ABBV98.22 0.77
0.79%
ACN 10 day candlestick chart for ACN162.89 2.48
1.55%
ADBE 10 day candlestick chart for ADBE248.89 -1.63
-0.65%
AAP 10 day candlestick chart for AAP159.49 1.46
0.92%
AES 10 day candlestick chart for AES13.87 0.38
2.82%
AET 10 day candlestick chart for AET198.47 1.18
0.60%
AFL 10 day candlestick chart for AFL46.50 0.21
0.45%
AMG 10 day candlestick chart for AMG146.29 0.86
0.59%
A 10 day candlestick chart for A65.50 0.77
1.19%
ABT 10 day candlestick chart for ABT64.16 0.69
1.09%