RTO.L breaks key support level


Rentokil Initial (RTO.L) Technical Analysis Report for Aug 10, 2018 | by Techniquant Editorial Team

Highlights

RTO.L breaks key support level
RTO.L finds buyers again around 331.20
RTO.L closes within previous day's range after lackluster session

Overview

RTO.L ended the week 1.8% higher at 333.30 after losing £1.40 (-0.42%) today. Closing within the previous day's range, prices failed to decisively move past the prior day's trading range in a lackluster session.

Daily Candlestick Chart (RTO.L as at Aug 10, 2018):

Daily technical analysis candlestick chart for Rentokil Initial (RTO.L) as at Aug 10, 2018

Friday's trading range was £3.60 (1.08%), that's far below last trading month's daily average range of £7.04. Things look different on a weekly scale, where volatility is below the markets average with the monthly volatility being way above average.

Breaking below the key support level at 334.50 today, it is now likely to act as resistance going forward. After having been unable to move lower than 331.70 in the previous session, the share found buyers again around the same price level today at 331.20.

Though still in a long-term uptrend, the short and medium-term trends both turned bearish already.

Buying might speed up should prices move above the close-by swing high at 336.10 where further buy stops could get triggered.


Market Conditions for RTO.L as at Aug 10, 2018

Loading Market Conditions for RTO.L (Rentokil Initial)...
Latest Report:

RTO.L breaks below Thursday's low

Oct 19, 2018
Trending Assets

Upgrade your trading!

Get the stats behind the charts

Find out what happened when Rentokil Initial traded like this in the past. See the odds for each technical pattern with expected gain and loss.

Find out more
Top Movers
You have free reports remaining. Subscribe for unlimited access...SUBSCRIBELOGINGO!