DLG.L closes above its opening price after recovering from early selling pressure

Direct Line Insurance Group PLC (DLG.L) Technical Analysis Report for Sep 14, 2018 | by Techniquant Editorial Team


DLG.L closes above its opening price after recovering from early selling pressure
DLG.L unable to break through key resistance level
DLG.L ends the day on a bullish note closing near the high of the day
DLG.L closes within previous day's range after lackluster session


DLG.L ended the week -1.43% lower at 323.00 after gaining £0.80 (0.25%) today. Trading up to £1.70 lower after the open, the share managed to reverse during the session as bulls took control ending the day above its opening price. Closing within the prior day's range, prices failed to decisively move beyond the previous day's trading range in a lackluster session. Ending with a strong close near the high of the day sets a bullish note for the next session.

Daily Candlestick Chart (DLG.L as at Sep 14, 2018):

Daily technical analysis candlestick chart for Direct Line Insurance Group PLC (DLG.L) as at Sep 14, 2018

Friday's trading range was £3.10 (0.96%), that's below last trading month's daily average range of £4.67. Things look different on a weekly scale, where volatility is slightly below the markets average with the monthly volatility being slightly below average.

Unable to break through the key technical resistance level at 323.40, Direct Line closed below it after spiking as high as 323.60 during the day. The failure to close above the resistance could increase that levels importance as resistance going forward.

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

Buying might speed up should prices move above the close-by swing high at 327.30 where further buy stops could get triggered. 2,017's low at 316.30 is within reach and we might see further downside momentum should the market break out past.

Market Conditions for DLG.L as at Sep 14, 2018

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