RB..L ends the day on a bearish note closing near the low of the day
Reckitt Benckiser (RB.L) Technical Analysis Report for Jul 13, 2018
RB.. L ended the week 0.91% higher at 6465.00 after losing £32.00 (-0.49%) today on low volume. The bears were in full control today, moving the market lower throughout the whole session. Closing within the previous day's range, prices failed to decisively move past the prior day's trading range in a lackluster session. Ending with a weak close near the low of the day sets a bearish note for the next session.
Friday's trading range was £57.00 (0.87%), that's far below last trading month's daily average range of £118.10. Things look different on a weekly scale, where volatility is slightly below the markets average with the monthly volatility being below average.
Prices are trading close to a key support level at 6457.00.
The trend is clearly bullish, showing an intact uptrend in the short, medium and long-term.
While classical technical analysis indicates a neutral sentiment for the next trading day, our quantitative statistics show a different picture being bullish.