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 [< 1 min read]
Highlights
RB..L dominated by bears dragging the market lower throughout the day
RB..L ends the day on a bearish note closing near the low of the day
RB..L closes within previous day's range after lackluster session
TQ Sentiment
Report Sentiment: 50% Bearish
Technical Forecast:
Overview

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.

Daily chart for RB.L
Volatility

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.

Support/Resistance

Prices are trading close to a key support level at 6457.00.

Trend

The trend is clearly bullish, showing an intact uptrend in the short, medium and long-term.

Conclusion

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

Market Conditions for Reckitt Benckiser
ConditionForecastDirectionWinAvgWorstBestEvents
Close near high of period TQ Pro Members Only
White Candle TQ Pro Members Only
RSI(2) above 80 TQ Pro Members Only
Price broke through Technical Resistance R1 TQ Pro Members Only
Close to S1 Support TQ Pro Members Only
More market conditions identified for TQ Pro members...
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