SN..L fails to close above 50-day moving average

Smith & Nephew (SN.L) Technical Analysis Report for Jul 13, 2018 | by Techniquant Editorial Team


SN..L fails to close above 50-day moving average
SN..L closes higher for the 2nd day in a row
SN..L runs into sellers again around 1351.50
SN..L rises to highest close since June 29th
SN..L closes within previous day's range after lackluster session


Moving higher for the 2nd day in a row, SN.. L finished the week 1.7% higher at 1345.00 after gaining £0.50 (0.04%) today on low volume. Today's closing price of 1345.00 marks the highest close since June 29th. Closing within the prior day's range, prices failed to decisively move past 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 (SN.L as at Jul 13, 2018):

Daily technical analysis candlestick chart for Smith & Nephew (SN.L) as at Jul 13, 2018

Friday's trading range was £7.00 (0.52%), that's far below last trading month's daily average range of £19.60. Things look different on a weekly scale, where volatility is below the markets average with the monthly volatility being above average.

Prices are trading close to a key support level at 1338.50. After having been unable to move above 1350.00 in the prior session, the market ran into sellers again around the same price level today, failing to move higher than 1351.50. After spiking up to 1351.50 during the day, Smith & found resistance at the 50-day moving average at 1345.61.

Though still in a long-term uptrend, the short and medium-term trends both turned bearish already.

Selling might accelerate should prices move below the nearby swing low at 1325.50 where further sell stops could get triggered.

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

Loading Market Conditions for SN.L (Smith & Nephew)...
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