SVT.L pushes through previous session high


Severn Trent (SVT.L) Technical Analysis Report for Jul 13, 2018 [< 1 min read]
Highlights
SVT.L fails to close above 20-day moving average
SVT.L closes higher for the 2nd day in a row
SVT.L pushes through previous session high
SVT.L ends the day indecisive
TQ Sentiment
Report Sentiment: 33% Bearish
Technical Forecast:
Overview

Moving higher for the 2nd day in a row, SVT.L finished the week -6.14% lower at 1941.00 after gaining £15.50 (0.8%) today. Closing above Thursday's high at 1938.50, the stock confirms its breakout through the previous session's high having traded £23.50 above 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

Friday's trading range was £31.00 (1.6%), that's slightly below last trading month's daily average range of £38.95. Things look different on a weekly scale, where volatility is way above the markets average with the monthly volatility being slightly above average.

Support/Resistance

Prices are trading close to the key resistance level at 1964.50. After spiking up to 1962.00 during the day, the market found resistance at the 20-day moving average at 1952.53.

Trend

While still in a long-term uptrend, the short and medium-term trends both turned bearish already.

Order Flow

Selling might accelerate should prices move below the nearby swing low at 1898.50 where further sell stops could get activated.

Conclusion

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

Market Conditions for Severn Trent
ConditionForecastDirectionWinAvgWorstBestEvents
Close near high of period TQ Pro Members Only
White Candle TQ Pro Members Only
Price broke through Technical Resistance R1 TQ Pro Members Only
Close to S1 Support TQ Pro Members Only
Decisive Up Move TQ Pro Members Only
More market conditions identified for TQ Pro members...
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