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 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):
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.