PSON.L closes above its opening price after recovering from early selling pressure
Pearson plc (PSON.L) Technical Analysis Report for Jun 14, 2018 | by Techniquant Editorial Team
PSON.L finished Thursday at 883.20 tanking £13.00 (-1.45%) on high volume. This is the biggest single day loss in over two months. Trading up to £13.00 lower after the open, the share managed to reverse during the session as bulls took control ending the day above its opening price. Closing below Wednesday's low at 890.40, Pearson plc confirms its breakout through the previous session's low having traded £28.80 below it intraday.
Daily Candlestick Chart (PSON.L as at Jun 14, 2018):
Thursday's trading range was £25.40 (2.9%), that's far above last trading month's daily average range of £13.88. Weekly volatility is also higher, being way above the markets average with the monthly volatility being below average.
Prices are trading close to a key support level at 878.20.
Although the market is currently in a short-term down trend, this could just be a correction, as the medium and long term trends are both positive.