RBS.L breaks below 20-day moving average


Royal Bank of Scotland PLC (RBS.L) Technical Analysis Report for Aug 10, 2018 [1 min read]
Highlights
RBS.L breaks key support level
RBS.L breaks below 20-day moving average
RBS.L finds buyers at key support level
RBS.L closes lower for the 2nd day in a row
RBS.L runs into sellers again around 252.80
TQ Sentiment
Report Sentiment: 57% Bearish
Technical Forecast:
Overview

Moving lower for the 2nd day in a row, RBS.L ended the week -3.84% lower at 247.90 after losing £4.20 (-1.67%) today. Today's closing price of 247.90 marks the lowest close since July 26th. Closing below Thursday's low at 251.50, the share confirms its breakout through the previous session's low having traded £5.90 below it intraday.

Daily chart for RBS.L
Volatility

Friday's trading range was £7.20 (2.85%), that's far above last trading month's daily average range of £4.53. Weekly volatility is also higher, being above the markets average with the monthly volatility being slightly above average.

Support/Resistance

After trading as low as 245.60 during the day, the market bounced off the key support level at 246.90. The failure to close below the support might increase that levels importance as support going forward. Breaking below the key support level at 251.80 today, it is now likely to act as resistance going forward. After having been unable to move above 253.30 in the prior session, RBS ran into sellers again around the same price level today, failing to move higher than 252.80.

Trend

The trend is clearly bearish, showing an intact downtrend in the short, medium and long-term. The stock broke below the 20-day moving average at 249.11 today for the first time since July 25th.

Order Flow

With prices trading close to this year's low at 240.00, downside momentum could speed up should RBS.L break out to new lows for the year.

Conclusion

Even though both sentiments are bearish for the next trading day, the classical technical analysis metrics are only slightly bearish while our quantitative statistics show a bearish sentiment.

Market Conditions for Royal Bank of Scotland PLC
Condition Forecast Direction Win Avg Worst Best Events
Southern Doji TQ Pro Members Only
Close to R1 Resistance TQ Pro Members Only
Doji TQ Pro Members Only
Bounced off Technical Resistance R1 TQ Pro Members Only
Homing Pigeon TQ Pro Members Only
More market conditions identified for TQ Pro members...
Learn more about TQ Pro
Trending Assets

Upgrade your trading!

Get the stats behind the charts

Find out what happened when Royal Bank of Scotland PLC traded like this in the past. See the odds for each technical pattern with expected gain and loss.

Signup
Stocks Top Movers
ETHUSD 285.726.43 2.30%
INDU 25,558.73396.32 1.58%
CRUDE 65.450.55 0.85%
CAC 5,349.0243.80 0.83%
SPX 2,840.6922.32 0.79%
ASX 6,328.30-0.70 -0.01%
DXY 96.535-0.045 -0.05%
NKY 22,192.04-12.18 -0.05%
GOLD 1,181.0-0.8 -0.07%
HSI 27,100.06-223.53 -0.82%
Start your day with the facts moving the markets
By clicking "Subscribe", you agree to our terms and privacy policy.

Related Stocks

ABBV 10 day candlestick chart for ABBV98.22 0.77
0.79%
ACN 10 day candlestick chart for ACN162.89 2.48
1.55%
ADBE 10 day candlestick chart for ADBE248.89 -1.63
-0.65%
AAP 10 day candlestick chart for AAP159.49 1.46
0.92%
AES 10 day candlestick chart for AES13.87 0.38
2.82%
AET 10 day candlestick chart for AET198.47 1.18
0.60%
AFL 10 day candlestick chart for AFL46.50 0.21
0.45%
AMG 10 day candlestick chart for AMG146.29 0.86
0.59%
A 10 day candlestick chart for A65.50 0.77
1.19%
ABT 10 day candlestick chart for ABT64.16 0.69
1.09%