SVT.L pushes through previous session high
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.
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.
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
|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|
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