NXT.L closes lower for the 2nd day in a row

Next plc (NXT.L) Technical Analysis Report for Sep 14, 2018

Highlights

NXT.L breaks key support level
NXT.L closes below its opening price unable to hold early session gains
NXT.L closes lower for the 2nd day in a row
NXT.L ends the day on a bearish note closing near the low of the day
NXT.L breaks below previous session low

TQ Sentiment

Report Sentiment: 66% Bearish
Technical Forecast:

Overview

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 chart for NXT.L

Volatility

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.

Support/Resistance

Breaking below the key support level at 5364.00 today, it is now likely to act as resistance going forward.

Trend

Although still in a long-term uptrend, the short and medium-term trends both turned bearish already.

Conclusion

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

Market Conditions for Next plc

Condition Forecast Direction Win Rate Exit Day Events
Bullish Harami Candle TQ Pro Members Only
Bullish Intraday Reversal TQ Pro Members Only
Close to S1 Support TQ Pro Members Only
Price broke through Technical Resistance R1 TQ Pro Members Only
Bullish Spinning Top TQ Pro Members Only
More market conditions identified for TQ Pro members...
Learn more about TQ Pro
Trending Assets

Upgrade your trading!

Get the stats behind the charts

Find out what happened when Next plc traded like this in the past. See the odds for each technical pattern with expected gain and loss.

Find out more
Top Market Movers

Related Stocks

BDEV.L 10 day candlestick chart for BDEV.L 559.20 2.80 (0.50%)
BKG.L 10 day candlestick chart for BKG.L 3,627.00 16.00 (0.44%)
BRBY.L 10 day candlestick chart for BRBY.L 2,109.00 -44.00 (-2.04%)
CCL.L 10 day candlestick chart for CCL.L 4,815.00 111.00 (2.36%)
CPG.L 10 day candlestick chart for CPG.L 1,641.50 7.50 (0.46%)
IHG.L 10 day candlestick chart for IHG.L 4,633.00 -63.00 (-1.34%)
INF.L 10 day candlestick chart for INF.L 733.00 -1.60 (-0.22%)
ITV.L 10 day candlestick chart for ITV.L 158.00 -1.80 (-1.13%)
JE.L 10 day candlestick chart for JE.L 698.60 -3.20 (-0.46%)
KGF.L 10 day candlestick chart for KGF.L 266.00 3.60 (1.37%)
You have free reports remaining. Subscribe for unlimited access...SUBSCRIBELOGINGO!