CNA.L breaks below 200-day moving average

Centrica plc (CNA.L) Technical Analysis Report for Sep 14, 2018

Highlights

CNA.L breaks below 200-day moving average
CNA.L fails to close above 200-day moving average
CNA.L breaks below previous session low
CNA.L falls to lowest close since September 4th

TQ Sentiment

Report Sentiment: 60% Bearish
Technical Forecast:

Overview

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 chart for CNA.L

Volatility

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.

Support/Resistance

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.

Trend

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.

Order Flow

Further selling might move prices lower should the market test August's nearby low at 140.85.

Conclusion

Even though both sentiments are bearish for the next trading day, the classical technical analysis metrics are only slightly bearish while our quantitative statistics show a bearish sentiment.

Market Conditions for Centrica plc

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Latest Report:

CNA.L ends the day indecisive

Sep 21, 2018
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