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GFS.L finds buyers again around 250.00


Technical Analysis Report for GFS.L - 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
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.

Report Market Conditions
ConditionForecastDirectionWinAvgWorstBest
Bounced off Technical Resistance R1 TQ Pro Members Only
Low close to previous low TQ Pro Members Only
Close to Swing High TQ Pro Members Only
Close to Swing Low TQ Pro Members Only
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