SGRO.L closes higher for the 2nd day in a row
Moving higher for the 2nd day in a row, SGRO.L ended Thursday at 670.00 gaining £0.80 (0.12%). Closing within the previous day's range, prices failed to decisively move beyond the prior day's trading range.
Thursday's trading range was £9.00 (1.35%), that's slightly above last trading month's daily average range of £7.83. Things look different on a weekly scale, where volatility is slightly below the markets average with the monthly volatility being above average. Prices continued to consolidate within a tight trading range between 661.40 and 677.80 which it has been in now for the last trading week.
During the whole day, prices traded within the previous day's range, unable to trade above the prior day's high or below the previous day's low forming an Inside Bar.
Prices are trading close to the key resistance level at 677.80. After having been unable to move lower than 662.80 in the prior session, the stock found buyers again around the same price level today at 663.40.
The trend is clearly bullish, showing an intact uptrend in the short, medium and long-term.
Buying might accelerate should prices move above the nearby swing high at 674.40 where further buy stops could get triggered. Selling might speed up should prices move below the close-by swing low at 662.80 where further sell stops could get activated.
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 Segro
|Down Close Near Low of Period||TQ Pro Members Only|
|Close to R1 Resistance||TQ Pro Members Only|
|2 Consecutive Lower Closes||TQ Pro Members Only|
|Closed below last periods low||TQ Pro Members Only|
|Close to S1 Support||TQ Pro Members Only|
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