EXPN.L finds buyers at key support level
Experian plc (EXPN.L) Technical Analysis Report for Apr 16, 2018
Moving higher for the 2nd day in a row, EXPN.L finished Monday at 1550.00 edging higher £0.50 (0.03%). Trading up to £5.75 lower after the open, the stock managed to reverse during the session as bulls took control ending the day above its opening price. Closing within the previous day's range, prices failed to decisively move past 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.
Monday's trading range was £14.25 (0.92%), that's below last trading month's daily average range of £21.61. Things look different on a weekly scale, where volatility is way below the markets average with the monthly volatility being slightly above average. Prices continued to consolidate within a tight trading range between 1543.25 and 1570.50 which it has been in now for the last trading week.
In a volatile session, prices traded above the previous day's high as well as below the prior day's low, forming a bullish Outside Bar.
After trading as low as 1543.25 during the day, the share bounced off the key support level at 1548.50. The failure to close below the support might increase that levels importance as support going forward. The market found buyers again today around 1543.25 for the third trading day in a row after having found demand at 1545.50 in the previous session and at 1545.00 two days ago. After spiking up to 1557.50 during the day, Experian found resistance at the 200-day moving average at 1554.55.
EXPN.L shows strength in the short-term supported by its long-term uptrend with only the medium-term trend being bearish.
Buying could accelerate should prices move above the close-by swing high at 1570.50 where further buy stops might get triggered.
While classical technical analysis indicates a neutral sentiment for the next trading day, our quantitative statistics show a different picture being bearish.
Market Conditions for Experian plc
|Condition||Forecast||Direction||Direction||Win Rate||Win Rate||Exit Day||Exit Day||Events|
|Closed below last periods low||TQ Pro Members Only|
|Bullish Bounce off SMA 20||TQ Pro Members Only|
|High close to previous High||TQ Pro Members Only|
|High close to previous two Highs||TQ Pro Members Only|
|High close to previous three Highs||TQ Pro Members Only|
More market conditions identified for TQ Pro members...
Learn more about TQ Pro
Top Market Movers