NXT.L closes lower for the 2nd day in a row
Next plc (NXT.L) Technical Analysis Report for Sep 14, 2018 | by Techniquant Editorial Team
Moving lower for the 2nd day in a row, NXT.L ended the week -1.8% lower at 5350.00 after losing £44.00 (-0.82%) today on low volume. Today's closing price of 5350.00 marks the lowest close since May 9th. Trading £30.00 higher after the open, the market was unable to hold its gains as the bears took control ending the day below its opening price. Closing below Thursday's low at 5382.00, the share confirms its breakout through the prior session's low having traded £32.00 below it intraday. Ending with a weak close near the low of the day sets a bearish note for the next session.
Daily Candlestick Chart (NXT.L as at Sep 14, 2018):
Friday's trading range was £74.00 (1.37%), that's slightly below last trading month's daily average range of £85.30. Things look different on a weekly scale, where volatility is slightly below the markets average with the monthly volatility being below average.
Breaking below the key support level at 5364.00 today, it is now likely to act as resistance going forward.
Although still in a long-term uptrend, the short and medium-term trends both turned bearish already.