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


United Utilities (UU.L) Technical Analysis Report for Jul 13, 2018 [< 1 min read]
Highlights
UU..L breaks key support level
UU..L closes below its opening price unable to hold early session gains
UU..L ends the day on a bearish note closing near the low of the day
UU..L closes within previous day's range
TQ Sentiment
Report Sentiment: 50% Bearish
Technical Forecast:
Overview

UU.. L ended the week -6.31% lower at 734.00 after losing £1.00 (-0.14%) today. Trading £10.00 higher after the open, the market was unable to hold its gains as the bears took control ending the day below its opening price. Closing within the previous day's range, prices failed to decisively move beyond the prior day's trading range. Ending with a weak close near the low of the day sets a bearish note for the next session.

Daily chart for UU.L
Volatility

Friday's trading range was £13.60 (1.84%), that's slightly below last trading month's daily average range of £15.14. Things look different on a weekly scale, where volatility is way above the markets average with the monthly volatility being slightly above average.

Support/Resistance

Prices are trading close to a key support level at 723.00. Breaking below the key support level at 735.00 today, it is now likely to act as resistance going forward.

Trend

Although still in a long-term uptrend, the short and medium-term trends both turned bearish already.

Order Flow

Selling could accelerate should prices move below the close-by swing low at 723.00 where further sell stops might 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 United Utilities
ConditionForecastDirectionWinAvgWorstBestEvents
Close near high of period TQ Pro Members Only
White Candle TQ Pro Members Only
High close to previous High TQ Pro Members Only
2 Consecutive Higher Closes TQ Pro Members Only
Decisive Up Move TQ Pro Members Only
More market conditions identified for TQ Pro members...
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