SVT.L plummets -2.64% closing £51.00 lower
Severn Trent (SVT.L) Technical Analysis Report for Jun 14, 2018 | by Techniquant Editorial Team
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 Candlestick Chart (SVT.L as at Jun 14, 2018):
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.
Prices are trading close to the key resistance level at 1898.00.
Severn Trent shows weakness in the short-term (in accordance with its long-term downtrend) with only the medium-term trend being bullish.
Trading close to April's low at 1805.00 we might see further downside momentum if potential sell stops at the level get activated.