BKG.L unable to break through key resistance level


Berkeley Group Holdings (BKG.L) Technical Analysis Report for Jun 14, 2018 [< 1 min read]
Highlights
BKG.L unable to break through key resistance level
BKG.L closes within previous day's range
TQ Sentiment
Technical Forecast:
Overview

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 chart for BKG.L
Volatility

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.

Price Action

Notwithstanding a weak opening the stock managed to close above the prior day's open and close, forming a bullish Engulfing Candle.

Support/Resistance

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.

Trend

The market shows weakness in the short-term (in accordance with its long-term downtrend) with only the medium-term trend being bullish.

Conclusion

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

Market Conditions for Berkeley Group Holdings
ConditionForecastDirectionWinAvgWorstBest
Bullish Engulfing Candle TQ Pro Members Only
Close to R1 Resistance TQ Pro Members Only
Bullish Belt-hold TQ Pro Members Only
Decisive Up Move TQ Pro Members Only
White Candle TQ Pro Members Only
More market conditions identified for TQ Pro members...
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Latest Report:

BKG.L finds buyers again around 4158.00

Jun 18, 2018
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