SDR.L closes within previous day's range


Schroders PLC (SDR.L) Technical Analysis Report for Jun 14, 2018 [1 min read]
Highlights
SDR.L unable to break through key resistance level
SDR.L fails to close above 50-day moving average
SDR.L closes within previous day's range
SDR.L ends the day indecisive
TQ Sentiment
Report Sentiment: 28% Bearish
Technical Forecast:
Overview

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 chart for SDR.L
Volatility

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.

Support/Resistance

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.

Trend

While still in a long-term downtrend, the short and medium-term trends both turned bullish already.

Order Flow

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.

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 Schroders PLC
Condition Forecast Direction Win Avg Worst Best Events
Close to S1 Support TQ Pro Members Only
Low close to previous two Lows TQ Pro Members Only
Black Candle TQ Pro Members Only
High close to previous High TQ Pro Members Only
Close to Swing Low TQ Pro Members Only
More market conditions identified for TQ Pro members...
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