LGEN.L closes below its opening price unable to hold early session gains


Legal & General (LGEN.L) Technical Analysis Report for Jul 13, 2018 [< 1 min read]
Highlights
LGEN.L closes below its opening price unable to hold early session gains
LGEN.L fails to close above 100-day moving average
LGEN.L closes higher for the 2nd day in a row
LGEN.L closes within previous day's range after lackluster session
TQ Sentiment
Report Sentiment: 50% Bearish
Technical Forecast:
Overview

Moving higher for the 2nd day in a row, LGEN.L finished the week 1.29% higher at 266.00 after gaining £0.40 (0.15%) today on low volume. Trading £1.20 higher after the open, Legal & was unable to hold its gains as the bears took control ending the day below its opening price. Closing within the previous day's range, prices failed to decisively move beyond the prior day's trading range in a lackluster session.

Daily chart for LGEN.L
Volatility

Friday's trading range was £2.80 (1.05%), that's below last trading month's daily average range of £3.76. Things look different on a weekly scale, where volatility is slightly below the markets average with the monthly volatility being way below average.

Support/Resistance

After spiking up to 268.70 during the day, the share found resistance at the 100-day moving average at 267.68.

Trend

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

Conclusion

While classical technical analysis indicates a neutral sentiment for the next trading day, our quantitative statistics show a different picture being slightly bearish.

Market Conditions for Legal & General
ConditionForecastDirectionWinAvgWorstBestEvents
Hanging Man TQ Pro Members Only
Bullish Bounce off SMA 20 TQ Pro Members Only
Closed below last periods low TQ Pro Members Only
Close to Swing High TQ Pro Members Only
Bearish Spinning Top TQ Pro Members Only
More market conditions identified for TQ Pro members...
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