CNA.L breaks below 200-day moving average
Centrica plc (CNA.L) Technical Analysis Report for Sep 14, 2018
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.
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.
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.
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