OML.L closes within prior day's range after lackluster session


Old Mutual (OML.L) Technical Analysis Report for Jun 14, 2018 [< 1 min read]
Highlights
OML.L closes higher for the 3rd day in a row
OML.L runs into sellers again around 227.80
OML.L rises to highest close since June 6th
OML.L closes within previous day's range after lackluster session
TQ Sentiment
Report Sentiment: 40% Bearish
Technical Forecast:
Overview

Moving higher for the 3rd day in a row, OML.L finished Thursday at 226.90 gaining £1.80 (0.8%). Today's closing price of 226.90 marks the highest close since June 6th. Closing within the previous day's range, prices failed to decisively move past the prior day's trading range in a lackluster session.

Daily chart for OML.L
Volatility

Thursday's trading range was £4.20 (1.87%), that's below last trading month's daily average range of £5.52. Things look different on a weekly scale, where volatility is below the markets average with the monthly volatility being way above average.

Support/Resistance

Prices are trading close to the key resistance level at 230.50. After having been unable to move above 227.20 in the previous session, Old Mutual ran into sellers again around the same price level today, failing to move higher than 227.80.

Trend

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

Conclusion

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

Market Conditions for Old Mutual
Condition Forecast Direction Win Avg Worst Best Events
Bullish Engulfing Candle TQ Pro Members Only
Close to S1 Support TQ Pro Members Only
Low close to previous low TQ Pro Members Only
Close to Swing High TQ Pro Members Only
High close to previous High TQ Pro Members Only
More market conditions identified for TQ Pro members...
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Latest Report:

OML.L ends the day indecisive

Jun 25, 2018
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