BATS.L unable to break through key resistance level


British American Tobacco p.l.c. (BATS.L) Technical Analysis Report for Jun 14, 2018 [< 1 min read]
Highlights
BATS.L unable to break through key resistance level
BATS.L closes higher for the 2nd day in a row
BATS.L pushes through previous session high
TQ Sentiment
Report Sentiment: 0% Neutral
Technical Forecast:
Overview

Moving higher for the 2nd day in a row, BATS.L ended Thursday at 3734.50 gaining £18.50 (0.5%). Closing above Wednesday's high at 3729.50, BATS confirms its breakout through the prior session's high having traded £29.50 above it intraday.

Daily chart for BATS.L
Volatility

Thursday's trading range was £97.00 (2.63%), that's above last trading month's daily average range of £79.71. Weekly volatility is also higher, being above the markets average with the monthly volatility being slightly below average.

Support/Resistance

Unable to break through the key technical resistance level at 3744.00, the stock closed below it after spiking as high as 3759.00 during the day. The failure to close above the resistance might increase that levels importance as resistance going forward.

Trend

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

Order Flow

Buying could speed up should prices move above the close-by swing high at 3817.50 where further buy stops might get activated. Selling could accelerate should prices move below the nearby swing low at 3646.50 where further sell stops might get triggered.

Conclusion

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

Market Conditions for British American Tobacco p.l.c.
Condition Forecast Direction Win Avg Worst Best Events
Close to R1 Resistance TQ Pro Members Only
Decisive Up Move TQ Pro Members Only
White Candle TQ Pro Members Only
Closed above last periods high TQ Pro Members Only
2 Consecutive Higher Closes TQ Pro Members Only
More market conditions identified for TQ Pro members...
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