MDC.L runs into sellers around 569.20 for the third day in a row


Mediclinic International plc (MDC.L) Technical Analysis Report for Jun 14, 2018 [< 1 min read]
Highlights
MDC.L runs into sellers around 569.20 for the third day in a row
MDC.L closes lower for the 2nd day in a row
MDC.L closes within previous day's range after lackluster session
MDC.L ends the day indecisive
TQ Sentiment
Technical Forecast:
Overview

Moving lower for the 2nd day in a row, MDC.L ended Thursday at 564.20 losing £1.00 (-0.18%). Closing within the previous day's range, prices failed to decisively move beyond 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 MDC.L
Volatility

Thursday's trading range was £13.80 (2.43%), that's below last trading month's daily average range of £23.59. Things look different on a weekly scale, where volatility is way below the markets average with the monthly volatility being way above average.

Support/Resistance

Prices are trading close to a key support level at 555.00. The market ran into sellers again today around 569.20 for the third trading day in a row after having found sellers at 570.20 in the previous session and at 566.80 two days ago.

Trend

The trend is clearly bearish, showing an intact downtrend in the short, medium and long-term.

Order Flow

Buying might accelerate should prices move above the close-by swing high at 570.20 where further buy stops could get triggered.

Conclusion

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

Market Conditions for Mediclinic International plc
ConditionForecastDirectionWinAvgWorstBestEvents
Close to S1 Support TQ Pro Members Only
Close to Swing High TQ Pro Members Only
RSI(2) below 20 TQ Pro Members Only
Takuri Line TQ Pro Members Only
Close to Swing Low TQ Pro Members Only
More market conditions identified for TQ Pro members...
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