SVT.L plummets -2.64% closing £51.00 lower


Severn Trent (SVT.L) Technical Analysis Report for Jun 14, 2018 [< 1 min read]
Highlights
SVT.L tanks -2.64% closing £51.00 lower
SVT.L closes above its opening price after recovering from early selling pressure
SVT.L breaks below previous session low
SVT.L falls to lowest close since April 25th
SVT.L ends the day indecisive
TQ Sentiment
Report Sentiment: 50% Bearish
Technical Forecast:
Overview

SVT.L finished Thursday at 1880.00 tanking £51.00 (-2.64%). This is the biggest single day loss in over a week. Today's closing price of 1880.00 marks the lowest close since April 25th. Trading up to £31.00 lower after the open, the market managed to reverse during the session as bulls took control ending the day above its opening price. Closing below Wednesday's low at 1917.00, the stock confirms its breakout through the prior session's low having traded £75.50 below it intraday. Ending the day with an indecisive close, neither buyers nor sellers were able to gain control during the session.

Daily chart for SVT.L
Volatility

Thursday's trading range was £46.00 (2.46%), that's slightly below last trading month's daily average range of £49.50. Things look different on a weekly scale, where volatility is above the markets average with the monthly volatility being way above average.

Support/Resistance

Prices are trading close to the key resistance level at 1898.00.

Trend

Severn Trent shows weakness in the short-term (in accordance with its long-term downtrend) with only the medium-term trend being bullish.

Order Flow

Trading close to April's low at 1805.00 we might see further downside momentum if potential sell stops at the level get activated.

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 Severn Trent
Condition Forecast Direction Win Avg Worst Best Events
Close to R1 Resistance TQ Pro Members Only
Gap Up TQ Pro Members Only
Closed above last periods high TQ Pro Members Only
Bounced off Technical Resistance R1 TQ Pro Members Only
RSI(2) above 80 TQ Pro Members Only
More market conditions identified for TQ Pro members...
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