STJ.L ends the day on a bearish note closing near the low of the day


St. James's Place plc (STJ.L) Technical Analysis Report for Apr 16, 2018 [< 1 min read]
Highlights
STJ.L dominated by bears dragging the market lower throughout the day
STJ.L ends the day on a bearish note closing near the low of the day
STJ.L breaks below previous session low
TQ Sentiment
Report Sentiment: 75% Bearish
Technical Forecast:
Overview

STJ.L finished Monday at 1072.50 losing £10.00 (-0.92%) on low volume. The bears were in full control today, moving the market lower throughout the whole session. Closing below Friday's low at 1079.50, the share confirms its breakout through the previous session's low having traded £7.50 below it intraday. Ending with a weak close near the low of the day sets a bearish note for the next session.

Daily chart for STJ.L
Volatility

Monday's trading range was £13.00 (1.2%), that's below last trading month's daily average range of £16.41. Things look different on a weekly scale, where volatility is below the markets average with the monthly volatility being slightly below average.

Trend

While the stock is experiencing a short-term up trend, this might just be a correction, as both the medium and long term trends are still in negative territory.

Order Flow

Buying could accelerate should prices move above the close-by swing high at 1088.00 where further buy stops might get triggered.

Conclusion

While classical technical analysis indicates a bearish sentiment for the next trading day, our quantitative statistics show a different picture being very bullish.

Market Conditions for St. James's Place plc
ConditionForecastDirectionWinAvgWorstBestEvents
Close near high of period TQ Pro Members Only
High close to previous High TQ Pro Members Only
Price broke through Technical Resistance R1 TQ Pro Members Only
Close to S1 Support TQ Pro Members Only
4 Consecutive Higher Closes TQ Pro Members Only
More market conditions identified for TQ Pro members...
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