BDEV.L closes higher for the 3rd day in a row
Barratt Developments (BDEV.L) Technical Analysis Report for Jul 13, 2018 | by Techniquant Editorial Team
Moving higher for the 3rd day in a row, BDEV.L finished the week 7.08% higher at 517.20 after gaining £7.20 (1.41%) today. Today's closing price of 517.20 marks the highest close since June 27th. Closing above Thursday's high at 513.00, Barratt Developments confirms its breakout through the prior session's high having traded £8.60 above it intraday.
Daily Candlestick Chart (BDEV.L as at Jul 13, 2018):
Friday's trading range was £8.20 (1.6%), that's below last trading month's daily average range of £11.13. Things look different on a weekly scale, where volatility is way above the markets average with the monthly volatility being slightly below average.
Prices are trading close to a key support level at 511.80.
Although the market is experiencing a short-term up trend, this might just be a correction, as both the medium and long term trends are still in negative territory. The share managed to break above the 20-day moving average at 511.80 today for the first time since June 14th.