STAN.L closes within prior day's range


Standard Chartered (STAN.L) Technical Analysis Report for Jun 14, 2018 [< 1 min read]
Highlights
STAN.L pushes through key resistance level
STAN.L runs into sellers again around 737.00
STAN.L closes within previous day's range
TQ Sentiment
Report Sentiment: 0% Neutral
Technical Forecast:
Overview

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 chart for STAN.L
Volatility

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.

Support/Resistance

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.

Trend

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

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 Standard Chartered
Condition Forecast Direction Win Avg Worst Best Events
Closed below last periods low TQ Pro Members Only
Close to S1 Support TQ Pro Members Only
52 Week Low TQ Pro Members Only
Bounced off Technical Support S1 TQ Pro Members Only
High close to previous High TQ Pro Members Only
More market conditions identified for TQ Pro members...
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