CRH.L snaps to lowest close since April 19th
CRH plc (CRH.L) Technical Analysis Report for Sep 14, 2018
CRH.L finished the week -1.74% lower at 2430.00 after losing £8.00 (-0.33%) today. Today's closing price of 2430.00 marks the lowest close since April 19th. Closing within the previous day's range, prices failed to decisively move beyond the prior day's trading range in a lackluster session. Ending the day with an indecisive close, neither buyers nor sellers were able to gain control during the session.
Friday's trading range was £39.00 (1.6%), that's below last trading month's daily average range of £55.25. Things look different on a weekly scale, where volatility is way below the markets average with the monthly volatility being above average.
After having been unable to move lower than 2413.00 in the previous session, the share found buyers again around the same price level today at 2411.00.
The trend is clearly bearish, showing an intact downtrend in the short, medium and long-term.
With prices trading close to this year's low at 2326.00, downside momentum might accelerate should CRH plc break out to new lows for the year.
While classical technical analysis indicates a neutral sentiment for the next trading day, our quantitative statistics show a different picture being bullish.
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