RDSA.L breaks below prior session low


Royal Dutch Shell plc (RDSA.L) Technical Analysis Report for Aug 10, 2018 [< 1 min read]
Highlights
RDSA.L breaks below 100-day moving average
RDSA.L closes lower for the 2nd day in a row
RDSA.L breaks below previous session low
RDSA.L falls to lowest close since June 21st
TQ Sentiment
Report Sentiment: 42% Bearish
Technical Forecast:
Overview

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.

Daily chart for RDSA.L
Volatility

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.

Support/Resistance

Prices are trading close to a key support level at 2518.50. Prices are trading close to the key resistance level at 2554.00.

Trend

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.

Order Flow

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.

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 Royal Dutch Shell plc
Condition Forecast Direction Win Avg Worst Best Events
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
More market conditions identified for TQ Pro members...
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