SVT.L pushes through previous session high
Severn Trent (SVT.L) Technical Analysis Report for Jul 13, 2018 | by Techniquant Editorial Team
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 Candlestick Chart (SVT.L as at Jul 13, 2018):
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.
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.
While still in a long-term uptrend, the short and medium-term trends both turned bearish already.
Selling might accelerate should prices move below the nearby swing low at 1898.50 where further sell stops could get activated.