PPB.L ends the day on a bearish note closing near the low of the day
Paddy Power Betfair plc (PPB.L) Technical Analysis Report for Jul 13, 2018
PPB.L finished the week 1.81% higher at 8435.00 after losing £75.00 (-0.88%) today. The bears were in full control today, moving the market lower throughout the whole session. Closing within the prior day's range, prices failed to decisively move past the previous day's trading range. Ending with a weak close near the low of the day sets a bearish note for the next session.
Friday's trading range was £155.00 (1.81%), that's slightly above last trading month's daily average range of £144.75. Weekly volatility is also higher, being slightly above the markets average with the monthly volatility being below average.
Prices are trading close to a key support level at 8400.00. After having been unable to move above 8590.00 in the prior session, the stock ran into sellers again around the same price level today, failing to move higher than 8590.00.
The trend is clearly bullish, showing an intact uptrend in the short, medium and long-term.
Even though both sentiments are bearish for the next trading day, the classical technical analysis metrics are only slightly bearish while our quantitative statistics show a bearish sentiment.