SDR.L dominated by bulls lifting the market higher throughout the day
Schroders PLC (SDR.L) Technical Analysis Report for Sep 14, 2018
SDR.L ended the week 1.35% higher at 3006.00 after gaining £30.00 (1.01%) today. Today's closing price of 3006.00 marks the highest close since September 4th. The bulls were in full control today, moving the market higher throughout the whole session. Closing above Thursday's high at 2993.00, the market confirms its breakout through the prior session's high having traded £18.00 above it intraday. Ending with a strong close near the high of the day sets a bullish note for the next session.
Friday's trading range was £40.00 (1.34%), that's below last trading month's daily average range of £48.75. Things look different on a weekly scale, where volatility is way below the markets average with the monthly volatility being slightly above average.
In spite of a weak opening Schroders managed to close above the previous day's open and close, forming a bullish Engulfing Candle.
Prices are trading close to the key resistance level at 3027.00. After having been unable to move lower than 2969.00 in the prior session, the share found buyers again around the same price level today at 2971.00.
The trend is clearly bearish, showing an intact downtrend in the short, medium and long-term.
Both sentiments, the classical technical analysis and our quantitative statistics are in perfect alignment today showing a bullish sentiment for the next trading day.
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