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