RMG.L pushes through 200-day moving average


Royal Mail (RMG.L) Technical Analysis Report for Jul 13, 2018 [1 min read]
Highlights
RMG.L closes below its opening price unable to hold early session gains
RMG.L pushes through 200-day moving average
RMG.L finds support at 200-day moving average
RMG.L closes higher for the 2nd day in a row
RMG.L pushes through previous session high
TQ Sentiment
Report Sentiment: 37% Bullish
Technical Forecast:
Overview

Moving higher for the 2nd day in a row, RMG.L ended the week -0.79% lower at 487.10 after gaining £1.60 (0.33%) today on low volume. Trading £3.90 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 above Thursday's high at 486.10, the market confirms its breakout through the prior session's high having traded £5.70 above it intraday. Ending the day with an indecisive close, neither buyers nor sellers were able to gain control during the session.

Daily chart for RMG.L
Volatility

Friday's trading range was £5.70 (1.17%), that's far below last trading month's daily average range of £10.73. 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 the key resistance level at 491.90. After trading as low as 486.10 during the day, the stock found support at the 200-day moving average at 486.69.

Trend

The trend is clearly bearish, showing an intact downtrend in the short, medium and long-term. Royal Mail managed to break above the 200-day moving average at 486.69 today for the first time since November 22, 2017.

Order Flow

Selling could accelerate should prices move below the nearby swing low at 475.90 where further sell stops might get triggered.

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 Mail
ConditionForecastDirectionWinAvgWorstBestEvents
Bearish Break through SMA 200 TQ Pro Members Only
Close to Swing Low TQ Pro Members Only
Black Candle TQ Pro Members Only
Closed below last periods low TQ Pro Members Only
Close to Swing High TQ Pro Members Only
More market conditions identified for TQ Pro members...
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Latest Report:

RMG.L breaks below previous session low

Jul 16, 2018
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