LGEN.L fails to close above 50-day moving average


Legal & General (LGEN.L) Technical Analysis Report for Jun 14, 2018 [< 1 min read]
Highlights
LGEN.L fails to close above 50-day moving average
LGEN.L closes within previous day's range
TQ Sentiment
Report Sentiment: 40% Bearish
Technical Forecast:
Overview

LGEN.L finished Thursday at 273.20 gaining £0.80 (0.29%). Closing within the previous day's range, prices failed to decisively move past the prior day's trading range.

Daily chart for LGEN.L
Volatility

Thursday's trading range was £5.10 (1.88%), that's above last trading month's daily average range of £3.96. Things look different on a weekly scale, where volatility is slightly below the markets average with the monthly volatility being slightly below average.

Support/Resistance

Prices are trading close to the key resistance level at 275.70. After spiking up to 274.90 during the day, the market found resistance at the 50-day moving average at 273.46.

Trend

While still in a long-term downtrend, the short and medium-term trends both turned bullish already.

Order Flow

Buying could accelerate should prices move above the nearby swing high at 277.50 where further buy stops might get triggered. Selling could speed up should prices move below the close-by swing low at 268.90 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 bullish.

Market Conditions for Legal & General
Condition Forecast Direction Win Avg Worst Best Events
Close to R1 Resistance TQ Pro Members Only
4 Consecutive Lower Closes TQ Pro Members Only
High close to previous High TQ Pro Members Only
Price broke through Technical Support S1 TQ Pro Members Only
More market conditions identified for TQ Pro members...
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Latest Report:

LGEN.L breaks key support level

Aug 17, 2018
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