STAN.L closes within prior day's range

Standard Chartered (STAN.L) Technical Analysis Report for Jun 14, 2018 | by Techniquant Editorial Team


STAN.L pushes through key resistance level
STAN.L runs into sellers again around 737.00
STAN.L closes within previous day's range


STAN.L finished Thursday at 730.90 gaining £6.80 (0.94%). Closing within the previous day's range, prices failed to decisively move past the prior day's trading range.

Daily Candlestick Chart (STAN.L as at Jun 14, 2018):

Daily technical analysis candlestick chart for Standard Chartered (STAN.L) as at Jun 14, 2018

Thursday's trading range was £17.10 (2.37%), that's above last trading month's daily average range of £14.48. Things look different on a weekly scale, where volatility is slightly below the markets average with the monthly volatility being slightly above average.

Breaking through the key resistance level at 729.00 today, it is now likely to act as support going forward. After having been unable to move above 738.20 in the previous session, the stock ran into sellers again around the same price level today, failing to move higher than 737.00.

The share shows weakness in the short-term (in accordance with its long-term downtrend) with only the medium-term trend being bullish.

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