CNA.L breaks below 200-day moving average
Centrica plc (CNA.L) Technical Analysis Report for Sep 14, 2018 | by Techniquant Editorial Team
CNA.L finished the week -3.24% lower at 143.30 after losing £1.10 (-0.76%) today. Today's closing price of 143.30 marks the lowest close since September 4th. Closing below Thursday's low at 143.65, the market confirms its breakout through the prior session's low having traded £1.40 below it intraday.
Daily Candlestick Chart (CNA.L as at Sep 14, 2018):
Friday's trading range was £2.75 (1.91%), that's slightly below last trading month's daily average range of £2.99. Things look different on a weekly scale, where volatility is above the markets average with the monthly volatility being slightly above average.
Prices are trading close to a key support level at 141.60. After spiking up to 145.00 during the day, the stock found resistance at the 200-day moving average at 144.38.
The trend is clearly bearish, showing an intact downtrend in the short, medium and long-term. Centrica broke below the 200-day moving average at 144.38 today for the first time since September 4th.
Further selling might move prices lower should the market test August's nearby low at 140.85.