GFS.L finds buyers again around 250.00


G4S plc (GFS.L) Technical Analysis Report for Apr 16, 2018 [1 min read]
Highlights
GFS.L unable to break through key resistance level
GFS.L finds buyers again around 250.00
GFS.L closes within previous day's range after lackluster session
GFS.L ends the day indecisive
TQ Sentiment
Report Sentiment: 0% Neutral
Technical Forecast:
Overview

GFS.L finished Monday at 250.70 edging higher £0.20 (0.08%) on low volume. 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 GFS.L
Volatility

Monday's trading range was £2.70 (1.08%), that's far below last trading month's daily average range of £4.37. Things look different on a weekly scale, where volatility is below the markets average with the monthly volatility being way below average.

Support/Resistance

Unable to break through the key technical resistance level at 251.20, G4S closed below it after spiking as high as 252.70 during the day. The failure to close above the resistance could increase that levels importance as resistance going forward. After having been unable to move lower than 250.40 in the previous session, the stock found buyers again around the same price level today at 250.00.

Trend

While the share is experiencing a short-term up trend, this might just be a correction, as both the medium and long term trends are still in negative territory.

Order Flow

Buying could accelerate should prices move above the nearby swing high at 254.80 where further buy stops might get triggered. Selling could speed up should prices move below the close-by swing low at 246.80 where further sell stops might get activated.

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 G4S plc
ConditionForecastDirectionWinAvgWorstBestEvents
Close near high of period TQ Pro Members Only
White Candle TQ Pro Members Only
Bullish Bounce off SMA 20 TQ Pro Members Only
Bullish Harami Candle TQ Pro Members Only
Bullish Break through SMA 50 TQ Pro Members Only
More market conditions identified for TQ Pro members...
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Latest Report:

GFS.L finds buyers at key support level

Jul 20, 2018
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