ULVR.L closes below its opening price unable to hold early session gains


Unilever (ULVR.L) Technical Analysis Report for Jul 13, 2018 [1 min read]
Highlights
ULVR.L closes below its opening price unable to hold early session gains
ULVR.L unable to break through key resistance level
ULVR.L closes higher for the 2nd day in a row
ULVR.L pushes through previous session high
ULVR.L still stuck within tight trading range
TQ Sentiment
Report Sentiment: 0% Neutral
Technical Forecast:
Overview

Moving higher for the 2nd day in a row, ULVR.L ended the week -0.26% lower at 4198.00 after gaining £6.50 (0.16%) today. Trading £25.00 higher after the open, the share was unable to hold its gains as the bears took control ending the day below its opening price. Closing above Thursday's high at 4194.00, the market confirms its breakout through the previous session's high having traded £36.50 above it intraday. Ending the day with an indecisive close, neither buyers nor sellers were able to gain control during the session.

Daily chart for ULVR.L
Volatility

Friday's trading range was £32.50 (0.77%), that's far below last trading month's daily average range of £50.05. Things look different on a weekly scale, where volatility is way below the markets average with the monthly volatility being slightly below average. Prices continued to consolidate within a tight trading range between 4171.50 and 4230.50 which it has been in now for the last trading week.

Support/Resistance

Prices are trading close to a key support level at 4183.50. Unable to break through the key technical resistance level at 4217.00, Unilever closed below it after spiking as high as 4230.50 during the day. The failure to close above the resistance might increase that levels importance as resistance going forward.

Trend

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

Order Flow

Buying could accelerate should prices move above the close-by swing high at 4244.00 where further buy stops might get triggered. Selling could speed up should prices move below the nearby swing low at 4171.50 where further sell stops might get activated. As prices are trading close to July's low at 4156.50, downside momentum could accelerate should the stock mark new lows for the month.

Conclusion

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

Market Conditions for Unilever
ConditionForecastDirectionWinAvgWorstBestEvents
Black Candle TQ Pro Members Only
Close to S1 Support TQ Pro Members Only
Bullish Bounce off SMA 20 TQ Pro Members Only
Closed below last periods low TQ Pro Members Only
Price broke through Technical Support S1 TQ Pro Members Only
More market conditions identified for TQ Pro members...
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