RSA.L breaks below 100-day moving average


RSA Insurance Group (RSA.L) Technical Analysis Report for Jul 13, 2018 [< 1 min read]
Highlights
RSA.L breaks below 100-day moving average
RSA.L ends the day on a bearish note closing near the low of the day
RSA.L runs into sellers again around 654.00
RSA.L breaks below previous session low
TQ Sentiment
Report Sentiment: 80% Bearish
Technical Forecast:
Overview

RSA.L ended the week -0.37% lower at 646.60 after losing £2.40 (-0.37%) today on high volume. Closing below Thursday's low at 647.20, the stock confirms its breakout through the prior session's low having traded £2.20 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 RSA.L
Volatility

Friday's trading range was £9.00 (1.38%), that's slightly below last trading month's daily average range of £9.94. Things look different on a weekly scale, where volatility is below the markets average with the monthly volatility being slightly below average.

Support/Resistance

After having been unable to move above 654.00 in the previous session, the share ran into sellers again around the same price level today, failing to move higher than 654.00.

Trend

Although still in a long-term uptrend, the short and medium-term trends both turned bearish already. RSA Insurance broke below the 100-day moving average at 647.69 today for the first time since July 11th.

Order Flow

Selling might speed up should prices move below the close-by swing low at 641.80 where further sell stops could get activated. Trading close to May's low at 634.00 we might see further downside momentum if potential sell stops at the level get triggered.

Conclusion

While classical technical analysis indicates a bearish sentiment for the next trading day, our quantitative statistics show a different picture being slightly bullish.

Market Conditions for RSA Insurance Group
ConditionForecastDirectionWinAvgWorstBestEvents
Close near high of period TQ Pro Members Only
Close to S1 Support TQ Pro Members Only
Bullish Bounce off SMA 200 TQ Pro Members Only
Hammer 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:

RSA.L finds buyers at key support level

Jul 20, 2018
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