RR.L slips to lowest close since August 1st


Rolls-Royce Holdings (RR.L) Technical Analysis Report for Aug 10, 2018 [< 1 min read]
Highlights
RR.L crashes, loses £40.00 (-3.69%) within a single day
RR.L closes below its opening price unable to hold early session gains
RR.L closes lower for the 2nd day in a row
RR.L ends the day on a bearish note closing near the low of the day
RR.L breaks below previous session low
TQ Sentiment
Report Sentiment: 66% Bearish
Technical Forecast:
Overview

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.

Daily chart for RR.L
Volatility

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.

Trend

The trend is clearly bullish, showing an intact uptrend in the short, medium and long-term.

Conclusion

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
Condition Forecast Direction Win Avg Worst Best Events
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
More market conditions identified for TQ Pro members...
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Latest Report:

RR.L breaks below prior session low

Aug 15, 2018
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