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 | by Techniquant Editorial Team
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 Candlestick Chart (MDC.L as at Jun 14, 2018):
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.
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.
The trend is clearly bearish, showing an intact downtrend in the short, medium and long-term.
Buying might accelerate should prices move above the close-by swing high at 570.20 where further buy stops could get triggered.