ULVR.L closes lower for the 2nd day in a row


Unilever (ULVR.L) Technical Analysis Report for Jun 14, 2018 [1 min read]
Highlights
ULVR.L crashes, loses £116.50 (-2.81%) within a single day
ULVR.L breaks key support level
ULVR.L breaks below 200-day moving average
ULVR.L finds buyers at key support level
ULVR.L fails to close above 20-day moving average
TQ Sentiment
Report Sentiment: 66% Bearish
Technical Forecast:
Overview

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 chart for ULVR.L
Volatility

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.

Support/Resistance

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.

Trend

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.

Order Flow

Further selling might move prices lower should the market test May's nearby low at 3943.00.

Conclusion

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

Market Conditions for Unilever
Condition Forecast Direction Win Avg Worst Best Events
Close to R1 Resistance TQ Pro Members Only
Closed above last periods high TQ Pro Members Only
Bounced off Technical Resistance R1 TQ Pro Members Only
Bearish Spinning Top TQ Pro Members Only
Close to Swing Low TQ Pro Members Only
More market conditions identified for TQ Pro members...
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