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

Schroders PLC (SDR.L) Technical Analysis Report for Apr 16, 2018 | by Techniquant Editorial Team


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


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 Candlestick Chart (SDR.L as at Apr 16, 2018):

Daily technical analysis candlestick chart for Schroders PLC (SDR.L) as at Apr 16, 2018

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.

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.

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.

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.

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

Market Conditions for SDR.L as at Apr 16, 2018

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