PSON.L finds support at 20-day moving average


Pearson plc (PSON.L) Technical Analysis Report for Aug 10, 2018

Highlights

PSON.L finds buyers around 913.60 for the third day in a row
PSON.L finds support at 20-day moving average
PSON.L ends the day on a bullish note closing near the high of the day
PSON.L stuck within tight trading range
PSON.L closes within previous day's range after lackluster session

Overview

PSON.L ended the week 1.32% higher at 920.00 after gaining £3.00 (0.33%) today. Closing within the prior day's range, prices failed to decisively move beyond the previous day's trading range in a lackluster session. Ending with a strong close near the high of the day sets a bullish note for the next session.

Daily Candlestick Chart (PSON.L as at Aug 10, 2018):

Daily technical analysis candlestick chart for Pearson plc (PSON.L) as at Aug 10, 2018

Friday's trading range was £7.80 (0.85%), that's below last trading month's daily average range of £15.20. Things look different on a weekly scale, where volatility is way below the markets average with the monthly volatility being slightly above average. Prices continued to consolidate within a tight trading range between 913.60 and 929.00 which it has been in now for the last three days.

Prices are trading close to the key resistance level at 926.80. The share found buyers again today around 913.60 for the third trading day in a row after having found demand at 915.20 in the prior session and at 915.40 two days ago. After trading as low as 913.60 during the day, the stock found support at the 20-day moving average at 915.05.

Though Pearson plc is currently in a short-term down trend, this might just be a correction, as the medium and long term trends are both positive.

Buying could speed up should prices move above the close-by swing high at 929.00 where further buy stops might get activated.


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

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