ULVR.L closes lower for the 2nd day in a row
Unilever (ULVR.L) Technical Analysis Report for Jun 14, 2018 | by Techniquant Editorial Team
Moving lower for the 2nd day in a row, ULVR.L finished Thursday at 4033.50 tanking £116.50 (-2.81%) on high volume. This is the biggest single day loss in over four months. Today's closing price of 4033.50 marks the lowest close since May 4th. Closing below Wednesday's low at 4136.00, the market confirms its breakout through the previous session's low having traded £174.00 below it intraday.
Daily Candlestick Chart (ULVR.L as at Jun 14, 2018):
Thursday's trading range was £204.50 (4.96%), that's far above last trading month's daily average range of £56.62. Weekly volatility is also higher, being way above the markets average with the monthly volatility being slightly above average.
After trading as low as 3962.00 during the day, the stock bounced off the key support level at 3988.50. The failure to close below the support could increase that levels importance as support going forward. Breaking below the key support level at 4100.00 today, it is now likely to act as resistance going forward. After having been unable to move above 4167.50 in the prior session, Unilever ran into sellers again around the same price level today, failing to move higher than 4166.50. After spiking up to 4166.50 during the day, the share found resistance at the 20-day moving average at 4147.27.
ULVR.L shows weakness in the short-term (in accordance with its long-term downtrend) with only the medium-term trend being bullish. The market broke below the 200-day moving average at 4100.54 today for the first time since June 6th.
Further selling might move prices lower should the market test May's nearby low at 3943.00.