PPB.L tanks -3.91% on high volume


Paddy Power Betfair plc (PPB.L) Technical Analysis Report for Aug 10, 2018 | by Techniquant Editorial Team

Highlights

PPB.L tanks -3.91% on high volume
PPB.L dominated by bears dragging the market lower throughout the day
PPB.L ends the day on a bearish note closing near the low of the day
PPB.L breaks below previous session low
PPB.L falls to lowest close since May 11th

Overview

PPB.L finished the week -10.87% lower at 7255.00 after tanking £295.00 (-3.91%) today on high volume. This is the biggest single day loss in over two days. Today's closing price of 7255.00 marks the lowest close since May 11th. The bears were in full control today, moving the market lower throughout the whole session. Closing below Thursday's low at 7495.00, Paddy Power confirms its breakout through the prior session's low having traded £240.00 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 (PPB.L as at Aug 10, 2018):

Daily technical analysis candlestick chart for Paddy Power Betfair plc (PPB.L) as at Aug 10, 2018

Friday's trading range was £315.00 (4.16%), that's far above last trading month's daily average range of £146.00. Weekly volatility is also higher, being way above the markets average with the monthly volatility being way above average.

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


Market Conditions for PPB.L as at Aug 10, 2018

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