BATS.L ends the day on a bearish note closing near the low of the day


British American Tobacco p.l.c. (BATS.L) Technical Analysis Report for Apr 16, 2018 [< 1 min read]
Highlights
BATS.L dominated by bears dragging the market lower throughout the day
BATS.L breaks below 20-day moving average
BATS.L closes lower for the 6th day in a row
BATS.L ends the day on a bearish note closing near the low of the day
BATS.L breaks below previous session low
TQ Sentiment
Report Sentiment: 66% Bearish
Technical Forecast:
Overview

Moving lower for the 6th day in a row, BATS.L finished Monday at 4043.00 losing £76.00 (-1.85%). Today's closing price of 4043.00 marks the lowest close since March 27th. The bears were in full control today, moving the market lower throughout the whole session. Closing below Friday's low at 4119.00, BATS confirms its breakout through the previous session's low having traded £84.00 below it intraday. Ending with a weak close near the low of the day sets a bearish note for the next session.

Daily chart for BATS.L
Volatility

Monday's trading range was £113.00 (2.74%), that's above last trading month's daily average range of £88.80. Weekly volatility is also higher, being slightly above the markets average with the monthly volatility being slightly above average.

Trend

The trend is clearly bearish, showing an intact downtrend in the short, medium and long-term. The share broke below the 20-day moving average at 4091.28 today for the first time since January 24th.

Conclusion

Even though both sentiments are bearish for the next trading day, the classical technical analysis metrics are only bearish while our quantitative statistics show a very bearish sentiment.

Market Conditions for British American Tobacco p.l.c.
ConditionForecastDirectionWinAvgWorstBestEvents
Close to Swing Low TQ Pro Members Only
Bullish Bounce off SMA 50 TQ Pro Members Only
Close to S1 Support TQ Pro Members Only
Bullish Spinning Top TQ Pro Members Only
Bearish Bounce off SMA 20 TQ Pro Members Only
More market conditions identified for TQ Pro members...
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