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 | by Techniquant Editorial Team
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 Candlestick Chart (BATS.L as at Apr 16, 2018):
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.
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.