RBS.L closes below its opening price unable to hold early session gains


Royal Bank of Scotland PLC (RBS.L) Technical Analysis Report for Jul 13, 2018 [< 1 min read]
Highlights
RBS.L closes below its opening price unable to hold early session gains
RBS.L closes within previous day's range after lackluster session
RBS.L ends the day indecisive
TQ Sentiment
Report Sentiment: 33% Bearish
Technical Forecast:
Overview

RBS.L finished the week -1.05% lower at 245.70 after edging lower £0.20 (-0.08%) today. Trading £1.30 higher after the open, the share was unable to hold its gains as the bears took control ending the day below its opening price. Closing within the previous day's range, prices failed to decisively move beyond the prior day's trading range in a lackluster session. Ending the day with an indecisive close, neither buyers nor sellers were able to gain control during the session.

Daily chart for RBS.L
Volatility

Friday's trading range was £3.60 (1.46%), that's below last trading month's daily average range of £4.83. Things look different on a weekly scale, where volatility is slightly below the markets average with the monthly volatility being below average.

Trend

The trend is clearly bearish, showing an intact downtrend 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 bearish.

Market Conditions for Royal Bank of Scotland PLC
ConditionForecastDirectionWinAvgWorstBestEvents
RSI(14) below 30 TQ Pro Members Only
Closed below last periods low TQ Pro Members Only
Price broke through Technical Support S1 TQ Pro Members Only
2 Consecutive Lower Closes TQ Pro Members Only
RSI(2) below 20 TQ Pro Members Only
More market conditions identified for TQ Pro members...
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Latest Report:

RBS.L breaks key support level

Jul 20, 2018
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