RSA.L closes higher for the 2nd day in a row
RSA Insurance Group (RSA.L) Technical Analysis Report for Sep 14, 2018 | by Techniquant Editorial Team
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 Candlestick Chart (RSA.L as at Sep 14, 2018):
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.
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.
The trend is clearly bearish, showing an intact downtrend in the short, medium and long-term.
Selling could speed up should prices move below the nearby swing low at 603.00 where further sell stops might get triggered.