SDR.L closes within previous day's range
Schroders PLC (SDR.L) Technical Analysis Report for Jun 14, 2018 | by Techniquant Editorial Team
SDR.L finished Thursday at 3276.00 edging higher £1.00 (0.03%) on high volume. Closing within the previous day's range, prices failed to decisively move past the prior 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 (SDR.L as at Jun 14, 2018):
Thursday's trading range was £64.00 (1.97%), that's above last trading month's daily average range of £48.95. Things look different on a weekly scale, where volatility is below the markets average with the monthly volatility being slightly above average.
Prices are trading close to a key support level at 3237.00. Unable to break through the key technical resistance level at 3287.00, the stock closed below it after spiking as high as 3306.00 during the day. The failure to close above the resistance could increase that levels importance as resistance going forward. After spiking up to 3306.00 during the day, the share found resistance at the 50-day moving average at 3305.68.
While still in a long-term downtrend, the short and medium-term trends both turned bullish already.
Buying might accelerate should prices move above the nearby swing high at 3318.00 where further buy stops could get triggered. Selling might speed up should prices move below the close-by swing low at 3230.00 where further sell stops could get activated.