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


Schroders PLC (SDR.L) Technical Analysis Report for Jul 13, 2018 [1 min read]
Highlights
SDR.L pushes through 20-day moving average
SDR.L finds support at 20-day moving average
SDR.L closes higher for the 2nd day in a row
SDR.L closes within previous day's range after lackluster session
TQ Sentiment
Report Sentiment: 50% Bullish
Technical Forecast:
Overview

Moving higher for the 2nd day in a row, SDR.L finished the week -1.68% lower at 3161.00 after gaining £14.00 (0.44%) 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 chart for SDR.L
Volatility

Friday's trading range was £31.00 (0.98%), that's below last trading month's daily average range of £52.15. Things look different on a weekly scale, where volatility is slightly above the markets average with the monthly volatility being below average.

Support/Resistance

Prices are trading close to a key support level at 3140.00. After trading as low as 3150.00 during the day, the share found support at the 20-day moving average at 3158.20.

Trend

Though Schroders is experiencing a short-term up trend, this could just be a correction, as both the medium and long term trends are still in negative territory. The market managed to break above the 20-day moving average at 3158.20 today for the first time since July 5th.

Order Flow

Selling might speed up should prices move below the nearby swing low at 3124.00 where further sell stops could get triggered. With prices trading close to this year's low at 3069.00, downside momentum might accelerate should the stock break out to new lows for the year. As prices are trading close to July's low at 3100.00, downside momentum could speed up should SDR.L mark new lows for the month.

Conclusion

While classical technical analysis indicates a neutral sentiment for the next trading day, our quantitative statistics show a different picture being bullish.

Market Conditions for Schroders PLC
ConditionForecastDirectionWinAvgWorstBestEvents
Close near low of period TQ Pro Members Only
Black Candle TQ Pro Members Only
Low close to previous two Lows TQ Pro Members Only
Closed below last periods low TQ Pro Members Only
Down Close Near Low of Period TQ Pro Members Only
More market conditions identified for TQ Pro members...
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