EXPN.L runs into sellers around 1946.00 for the third day in a row

Experian plc (EXPN.L) Technical Analysis Report for Sep 14, 2018

Highlights

EXPN.L pushes through key resistance level
EXPN.L runs into sellers around 1946.00 for the third day in a row
EXPN.L closes above its opening price after recovering from early selling pressure
EXPN.L ends the day on a bullish note closing near the high of the day
EXPN.L rises to highest close since Inception

TQ Sentiment

Report Sentiment: 33% Bullish
Technical Forecast:

Overview

EXPN.L finished the week 2.91% higher at 1945.00 after gaining £17.50 (0.91%) today. Today's closing price of 1945.00 marks the highest close since Inception. Trading up to £11.00 lower after the open, the market 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. Ending with a strong close near the high of the day sets a bullish note for the next session.

Daily chart for EXPN.L

Volatility

Friday's trading range was £21.50 (1.11%), that's slightly below last trading month's daily average range of £22.68. Things look different on a weekly scale, where volatility is slightly above the markets average with the monthly volatility being slightly below average. Prices continued to consolidate within a tight trading range between 1922.50 and 1946.50 which it has been in now for the last three days.

Support/Resistance

Breaking through the key resistance level at 1940.50 today, it is now likely to act as support going forward. The stock ran into sellers again today around 1946.00 for the third trading day in a row after having found sellers at 1945.50 in the prior session and at 1946.50 two days ago.

Trend

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

Order Flow

Buying might speed up should prices move above the close-by swing high at 1946.50 where further buy stops could get activated. Selling might accelerate should prices move below the nearby swing low at 1922.50 where further sell stops could get triggered. With prices trading close to this year's high at 1963.00, upside momentum might speed up should Experian be able to break out to new highs for the year. Further buying could move prices higher should the market test August's close-by high at 1954.00.

Conclusion

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

Market Conditions for Experian plc

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Latest Report:

EXPN.L breaks key support level

Sep 18, 2018
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