SDR.L dominated by bears dragging the market lower throughout the day


Schroders PLC (SDR.L) Technical Analysis Report for Apr 16, 2018 [1 min read]
Highlights
SDR.L dominated by bears dragging the market lower throughout the day
SDR.L finds buyers at key support level
SDR.L runs into sellers again around 3273.00
SDR.L closes within previous day's range after lackluster session
TQ Sentiment
Report Sentiment: 33% Bearish
Technical Forecast:
Overview

SDR.L finished Monday at 3255.00 losing £10.00 (-0.31%). The bears were in full control today, moving the market lower throughout the whole session. Closing within the prior day's range, prices failed to decisively move beyond the previous day's trading range in a lackluster session.

Daily chart for SDR.L
Volatility

Monday's trading range was £23.00 (0.7%), that's far below last trading month's daily average range of £47.11. Things look different on a weekly scale, where volatility is slightly above the markets average with the monthly volatility being below average.

Price Action

During the whole day, prices traded within the prior day's range, unable to trade above the previous day's high or below the prior day's low forming an Inside Bar.

Support/Resistance

After trading as low as 3250.00 during the day, Schroders bounced off the key support level at 3254.26. The failure to close below the support might increase that levels importance as support going forward. After having been unable to move above 3276.00 in the previous session, the share ran into sellers again around the same price level today, failing to move higher than 3273.00.

Trend

While the stock 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.

Order Flow

Buying might speed up should prices move above the nearby swing high at 3276.00 where further buy stops could get triggered.

Conclusion

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