CPG.L declines to lowest close since April 4th

Compass Group PLC (CPG.L) Technical Analysis Report for Apr 16, 2018

Highlights

CPG.L breaks key support level
CPG.L dominated by bears dragging the market lower throughout the day
CPG.L closes lower for the 4th day in a row
CPG.L breaks below previous session low
CPG.L falls to lowest close since April 4th

TQ Sentiment

Report Sentiment: 50% Bearish
Technical Forecast:

Overview

Moving lower for the 4th day in a row, CPG.L finished Monday at 1449.50 losing £10.50 (-0.72%). Today's closing price of 1449.50 marks the lowest close since April 4th. The bears were in full control today, moving the market lower throughout the whole session. Closing below Friday's low at 1454.00, the share confirms its breakout through the prior session's low having traded £10.50 below it intraday.

Daily chart for CPG.L

Volatility

Monday's trading range was £20.00 (1.37%), that's slightly below last trading month's daily average range of £21.30. Things look different on a weekly scale, where volatility is slightly above the markets average with the monthly volatility being slightly above average.

Support/Resistance

Breaking below the key support level at 1454.00 today, it is now likely to act as resistance going forward.

Trend

The trend is clearly bearish, showing an intact downtrend in the short, medium and long-term.

Order Flow

Selling could speed up should prices move below the nearby swing low at 1427.50 where further sell stops might get triggered. As prices are trading close to April's low at 1427.50, downside momentum could accelerate should the stock mark new lows for the month.

Conclusion

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

Market Conditions for Compass Group PLC

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Latest Report:

CPG.L soars 1.24% on high volume

Sep 21, 2018
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