STJ.L runs into sellers again around 1191.50
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.
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.
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.
The trend is clearly bullish, showing an intact uptrend in the short, medium and long-term.
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.
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
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|Close to S1 Support||TQ Pro Members Only|
|Bullish Bounce off SMA 20||TQ Pro Members Only|
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