RR.L slips to lowest close since August 1st
Moving lower for the 2nd day in a row, RR.L ended the week -4.57% lower at 1044.00 after tanking £40.00 (-3.69%) today. This is the biggest single day loss in over a year. Today's closing price of 1044.00 marks the lowest close since August 1st. Trading £11.00 higher after the open, the stock was unable to hold its gains as the bears took control ending the day below its opening price. Closing below Thursday's low at 1076.00, the share confirms its breakout through the prior session's low having traded £35.50 below it intraday. Ending with a weak close near the low of the day sets a bearish note for the next session.
Friday's trading range was £20.50 (1.95%), that's slightly below last trading month's daily average range of £21.46. Things look different on a weekly scale, where volatility is slightly above the markets average with the monthly volatility being way above average.
The trend is clearly bullish, showing an intact uptrend in the short, medium and long-term.
While classical technical analysis indicates a bearish sentiment for the next trading day, our quantitative statistics show a different picture being bullish.
Market Conditions for Rolls-Royce Holdings
|Down Close Near Low of Period||TQ Pro Members Only|
|Closed below last periods low||TQ Pro Members Only|
|Black Candle||TQ Pro Members Only|
|5 Consecutive Lower Closes||TQ Pro Members Only|
|Close near low of period||TQ Pro Members Only|
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