EXPN.L finds buyers at key support level

Experian plc (EXPN.L) Technical Analysis Report for Apr 16, 2018

Highlights

EXPN.L finds buyers around 1543.25 for the third day in a row
EXPN.L closes above its opening price after recovering from early selling pressure
EXPN.L finds buyers at key support level
EXPN.L fails to close above 200-day moving average
EXPN.L closes higher for the 2nd day in a row

TQ Sentiment

Report Sentiment: 40% Bullish
Technical Forecast:

Overview

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.

Daily chart for EXPN.L

Volatility

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.

Price Action

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.

Support/Resistance

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.

Trend

EXPN.L shows strength in the short-term supported by its long-term uptrend with only the medium-term trend being bearish.

Order Flow

Buying could accelerate should prices move above the close-by swing high at 1570.50 where further buy stops might get triggered.

Conclusion

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 Win Rate 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...
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Latest Report:

EXPN.L breaks below previous session low

Sep 17, 2018
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