RSA.L closes higher for the 2nd day in a row

RSA Insurance Group (RSA.L) Technical Analysis Report for Sep 14, 2018

Highlights

RSA.L closes higher for the 2nd day in a row
RSA.L runs into sellers again around 610.80
RSA.L closes within previous day's range
RSA.L ends the day indecisive

TQ Sentiment

Report Sentiment: 20% Bearish
Technical Forecast:

Overview

Moving higher for the 2nd day in a row, RSA.L finished the week -0.94% lower at 608.60 after gaining £1.40 (0.23%) today on high volume. Closing within the prior day's range, prices failed to decisively move past the previous day's trading range. Ending the day with an indecisive close, neither buyers nor sellers were able to gain control during the session.

Daily chart for RSA.L

Volatility

Friday's trading range was £6.60 (1.08%), that's slightly below last trading month's daily average range of £7.47. Things look different on a weekly scale, where volatility is below the markets average with the monthly volatility being way above average.

Support/Resistance

After having been unable to move above 610.00 in the prior session, RSA Insurance ran into sellers again around the same price level today, failing to move higher than 610.80.

Trend

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

Order Flow

Selling could speed up should prices move below the nearby swing low at 603.00 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 RSA Insurance Group

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Latest Report:

RSA.L pushes through prior session high

Sep 21, 2018
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