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 [< 1 min read]
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
TQ Sentiment
Report Sentiment: 50% Bearish
Technical Forecast:
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 chart for SGE.L
Volatility

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.

Support/Resistance

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.

Trend

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

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 Sage Group
ConditionForecastDirectionWinAvgWorstBestEvents
Northern Doji TQ Pro Members Only
Doji TQ Pro Members Only
Close to S1 Support TQ Pro Members Only
Bullish Harami Candle TQ Pro Members Only
Bearish Bounce off SMA 20 TQ Pro Members Only
More market conditions identified for TQ Pro members...
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