SHP.L closes within previous day's range after lackluster session

Shire plc (SHP.L) Technical Analysis Report for Jul 13, 2018 | by Techniquant Editorial Team


SHP.L unable to break through key resistance level
SHP.L closes higher for the 9th day in a row
SHP.L rises to highest close since July 27, 2017
SHP.L closes within previous day's range after lackluster session
SHP.L ends the day indecisive


Moving higher for the 9th day in a row, SHP.L ended the week 1.26% higher at 4340.00 after gaining £4.00 (0.09%) today on low volume. Today's closing price of 4340.00 marks the highest close since July 27, 2017. Closing within the prior day's range, prices failed to decisively move beyond the previous day's trading range in a lackluster session. Ending the day with an indecisive close, neither buyers nor sellers were able to gain control during the session.

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

Daily technical analysis candlestick chart for Shire plc (SHP.L) as at Jul 13, 2018

Friday's trading range was £38.50 (0.89%), that's far below last trading month's daily average range of £55.14. Things look different on a weekly scale, where volatility is slightly below the markets average with the monthly volatility being above average.

Unable to break through the key technical resistance level at 4350.00, the market closed below it after spiking as high as 4376.50 during the day. The failure to close above the resistance could increase that levels importance as resistance going forward.

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

Selling might speed up should prices move below the close-by swing low at 4280.00 where further sell stops could get triggered.

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

Loading Market Conditions for SHP.L (Shire plc)...
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