PSON.L closes above its opening price after recovering from early selling pressure


Pearson plc (PSON.L) Technical Analysis Report for Jun 14, 2018 [< 1 min read]
Highlights
PSON.L crashes, loses £13.00 (-1.45%) within a single day
PSON.L closes above its opening price after recovering from early selling pressure
PSON.L breaks below previous session low
TQ Sentiment
Technical Forecast:
Overview

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 chart for PSON.L
Volatility

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.

Support/Resistance

Prices are trading close to a key support level at 878.20.

Trend

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.

Conclusion

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

Market Conditions for Pearson plc
ConditionForecastDirectionWinAvgWorstBestEvents
Bearish Break through SMA 50 TQ Pro Members Only
2 Consecutive Lower Closes TQ Pro Members Only
Closed below last periods low TQ Pro Members Only
Close to S1 Support TQ Pro Members Only
Very Strong Down Move TQ Pro Members Only
More market conditions identified for TQ Pro members...
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