STT declines to lowest close since June 6, 2017
State Street Corp. (STT) Technical Analysis Report for Aug 10, 2018 | by Techniquant Editorial Team
Moving lower for the 3rd day in a row, STT ended the week -3.33% lower at 83.99 after losing $1.81 (-2.11%) today. Today's closing price of 83.99 marks the lowest close since June 6, 2017. Closing below Thursday's low at 85.67, the stock confirms its breakout through the previous session's low having traded $2.15 below it intraday.
Daily Candlestick Chart (STT as at Aug 10, 2018):
Friday's trading range was $1.31 (1.55%), that's slightly below last trading month's daily average range of $1.46. Things look different on a weekly scale, where volatility is slightly below the markets average with the monthly volatility being slightly above average.
Breaking below the key support level at 84.56 today, it is now likely to act as resistance going forward.
The trend is clearly bearish, showing an intact downtrend in the short, medium and long-term.