TW.L breaks key support level


Taylor Wimpey (TW.L) Technical Analysis Report for Aug 10, 2018 [< 1 min read]
Highlights
TW.L breaks key support level
TW.L closes lower for the 2nd day in a row
TW.L closes within previous day's range after lackluster session
TQ Sentiment
Report Sentiment: 25% Bearish
Technical Forecast:
Overview

Moving lower for the 2nd day in a row, TW.L ended the week 0.91% higher at 172.35 after losing £1.05 (-0.61%) today on low volume. Closing within the prior day's range, prices failed to decisively move beyond the previous day's trading range in a lackluster session.

Daily chart for TW.L
Volatility

Friday's trading range was £1.80 (1.04%), that's below last trading month's daily average range of £2.98. Things look different on a weekly scale, where volatility is below the markets average with the monthly volatility being slightly below average.

Support/Resistance

Breaking below the key support level at 172.40 today, it is now likely to act as resistance going forward.

Trend

The trend is clearly bearish, showing an intact downtrend in the short, medium and long-term.

Order Flow

Buying might speed up should prices move above the nearby swing high at 175.10 where further buy 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 bullish.

Market Conditions for Taylor Wimpey
Condition Forecast Direction Win Avg Worst Best Events
Close to R1 Resistance TQ Pro Members Only
White Candle TQ Pro Members Only
52 Week Low TQ Pro Members Only
Low close to previous low TQ Pro Members Only
Close to Swing High TQ Pro Members Only
More market conditions identified for TQ Pro members...
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