SGE.L ends the day on a bearish note closing near the low of the day


Sage Group (SGE.L) Technical Analysis Report for Jul 13, 2018 | by Techniquant Editorial Team

Highlights

SGE.L unable to break through key resistance level
SGE.L ends the day on a bearish note closing near the low of the day
SGE.L closes within previous day's range

Overview

SGE.L finished the week 0.95% higher at 619.40 after losing £6.00 (-0.96%) today. Closing within the prior day's range, prices failed to decisively move beyond the previous day's trading range. Ending with a weak close near the low of the day sets a bearish note for the next session.

Daily Candlestick Chart (SGE.L as at Jul 13, 2018):

Daily technical analysis candlestick chart for Sage Group (SGE.L) as at Jul 13, 2018

Friday's trading range was £12.20 (1.95%), that's above last trading month's daily average range of £9.88. Things look different on a weekly scale, where volatility is slightly below the markets average with the monthly volatility being below average.

Prices are trading close to a key support level at 614.40. Unable to break through the key technical resistance level at 628.40, the stock closed below it after spiking as high as 630.60 during the day. The failure to close above the resistance could increase that levels importance as resistance going forward.

The trend is clearly bearish, showing an intact downtrend in the short, medium and long-term.


Market Conditions for SGE.L as at Jul 13, 2018

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