CNA.L ends the day on a bearish note closing near the low of the day
Centrica plc (CNA.L) Technical Analysis Report for Jul 13, 2018 | by Techniquant Editorial Team
CNA.L ended the week -1.81% lower at 160.15 after losing £0.30 (-0.19%) today. Trading £0.95 higher after the open, the stock was unable to hold its gains as the bears took control ending the day below its opening price. Closing within the prior day's range, prices failed to decisively move past the previous day's trading range in a lackluster session. Ending with a weak close near the low of the day sets a bearish note for the next session.
Daily Candlestick Chart (CNA.L as at Jul 13, 2018):
Friday's trading range was £2.05 (1.27%), that's below last trading month's daily average range of £2.57. Things look different on a weekly scale, where volatility is slightly above the markets average with the monthly volatility being slightly below average.
Breaking below the key support level at 160.40 today, it is now likely to act as resistance going forward.
The trend is clearly bullish, showing an intact uptrend in the short, medium and long-term.
Selling might accelerate should prices move below the nearby swing low at 158.20 where further sell stops could get triggered. As prices are trading close to July's low at 156.90, downside momentum might speed up should the share mark new lows for the month.