RDSA.L breaks below prior session low
Moving lower for the 2nd day in a row, RDSA.L finished the week -0.53% lower at 2531.00 after losing £32.00 (-1.25%) today. Today's closing price of 2531.00 marks the lowest close since June 21st. Closing below Thursday's low at 2561.50, the market confirms its breakout through the prior session's low having traded £39.50 below it intraday.
Friday's trading range was £31.00 (1.22%), that's below last trading month's daily average range of £44.12. Things look different on a weekly scale, where volatility is slightly below the markets average with the monthly volatility being slightly below average.
Prices are trading close to a key support level at 2518.50. Prices are trading close to the key resistance level at 2554.00.
Though still in a long-term uptrend, the short and medium-term trends both turned bearish already. The stock broke below the 100-day moving average at 2539.91 today for the first time since February 5th.
Selling could accelerate should prices move below the nearby swing low at 2518.50 where further sell stops might get triggered. Trading close to June's low at 2498.50 we could see further downside momentum if potential sell stops at the level get activated.
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 Royal Dutch Shell plc
|Southern Doji||TQ Pro Members Only|
|Low close to previous low||TQ Pro Members Only|
|Doji||TQ Pro Members Only|
|High close to previous High||TQ Pro Members Only|
|Bullish Bounce off SMA 200||TQ Pro Members Only|
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