PPB.L tanks -3.91% on high volume
Paddy Power Betfair plc (PPB.L) Technical Analysis Report for Aug 10, 2018
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):
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.