BKG.L unable to break through key resistance level
Berkeley Group Holdings (BKG.L) Technical Analysis Report for Jun 14, 2018 | by Techniquant Editorial Team
BKG.L ended Thursday at 4199.00 gaining £20.00 (0.48%). Closing within the prior day's range, prices failed to decisively move beyond the previous day's trading range.
Daily Candlestick Chart (BKG.L as at Jun 14, 2018):
Thursday's trading range was £86.00 (2.07%), that's far above last trading month's daily average range of £56.45. Weekly volatility is also higher, being way above the markets average with the monthly volatility being slightly below average.
Notwithstanding a weak opening the stock managed to close above the prior day's open and close, forming a bullish Engulfing Candle.
Unable to break through the key technical resistance level at 4225.00, the share closed below it after spiking as high as 4226.00 during the day. The failure to close above the resistance could increase that levels importance as resistance going forward.
The market shows weakness in the short-term (in accordance with its long-term downtrend) with only the medium-term trend being bullish.