STJ.L runs into sellers again around 1191.50


St. James's Place plc (STJ.L) Technical Analysis Report for Jul 13, 2018 [1 min read]
Highlights
STJ.L closes below its opening price unable to hold early session gains
STJ.L unable to break through key resistance level
STJ.L closes higher for the 2nd day in a row
STJ.L runs into sellers again around 1191.50
STJ.L closes within previous day's range after lackluster session
TQ Sentiment
Report Sentiment: 42% Bearish
Technical Forecast:
Overview

Moving higher for the 2nd day in a row, STJ.L ended the week 0.64% higher at 1178.50 after edging higher £2.00 (0.17%) today on low volume. Trading £7.00 higher after the open, the market was unable to hold its gains as the bears took control ending the day below its opening price. Closing within the previous day's range, prices failed to decisively move beyond the prior day's trading range in a lackluster session.

Daily chart for STJ.L
Volatility

Friday's trading range was £15.50 (1.31%), that's below last trading month's daily average range of £18.30. Things look different on a weekly scale, where volatility is way below the markets average with the monthly volatility being below average.

Support/Resistance

Unable to break through the key technical resistance level at 1189.50, the share closed below it after spiking as high as 1191.50 during the day. The failure to close above the resistance could increase that levels importance as resistance going forward. After having been unable to move above 1191.50 in the previous session, the stock ran into sellers again around the same price level today, failing to move higher than 1191.50.

Trend

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

Order Flow

Buying might speed up should prices move above the close-by swing high at 1192.00 where further buy stops could get activated. Selling might accelerate should prices move below the nearby swing low at 1162.50 where further sell stops could get triggered.

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 St. James's Place plc
ConditionForecastDirectionWinAvgWorstBestEvents
Bearish Bounce off SMA 50 TQ Pro Members Only
Bearish Intraday Reversal TQ Pro Members Only
Close to Swing Low TQ Pro Members Only
Close to S1 Support TQ Pro Members Only
Bullish Bounce off SMA 20 TQ Pro Members Only
More market conditions identified for TQ Pro members...
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