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