UU.L fails to close above 100-day moving average


United Utilities (UU.L) Technical Analysis Report for Aug 10, 2018 [1 min read]
Highlights
UU.L breaks below 100-day moving average
UU.L closes below its opening price unable to hold early session gains
UU.L fails to close above 100-day moving average
UU.L ends the day on a bearish note closing near the low of the day
UU.L runs into sellers again around 746.40
TQ Sentiment
Report Sentiment: 55% Bearish
Technical Forecast:
Overview

UU.L finished the week 2.19% higher at 738.20 after losing £6.40 (-0.86%) today on low volume. Trading £3.40 higher after the open, United Utilities was unable to hold its gains as the bears took control ending the day below its opening price. Closing within the prior day's range, prices failed to decisively move beyond the previous day's trading range in a lackluster session. 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 £9.20 (1.24%), that's below last trading month's daily average range of £13.70. Things look different on a weekly scale, where volatility is slightly below the markets average with the monthly volatility being way below average. Prices continued to consolidate within a tight trading range between 731.40 and 747.20 which it has been in now for the last three days.

Price Action

During the whole day, prices traded within the prior day's range, unable to trade above the previous day's high or below the prior day's low forming an Inside Bar.

Support/Resistance

After having been unable to move above 747.20 in the previous session, the share ran into sellers again around the same price level today, failing to move higher than 746.40. After spiking up to 746.40 during the day, the stock found resistance at the 100-day moving average at 743.38.

Trend

The market shows strength in the short-term supported by its long-term uptrend with only the medium-term trend being bearish. UU.L broke below the 100-day moving average at 743.38 today for the first time since July 11th.

Order Flow

Buying could speed up should prices move above the close-by swing high at 747.20 where further buy 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
Condition Forecast Direction Win Avg Worst Best Events
Close to S1 Support TQ Pro Members Only
Price broke through Technical Resistance R1 TQ Pro Members Only
Close to Swing High TQ Pro Members Only
Closed above last periods high TQ Pro Members Only
Up Close near high of period TQ Pro Members Only
More market conditions identified for TQ Pro members...
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