WPP.L dominated by bulls lifting the market higher throughout the day


WPP plc (WPP.L) Technical Analysis Report for Jun 14, 2018 [< 1 min read]
Highlights
WPP.L dominated by bulls lifting the market higher throughout the day
WPP.L closes lower for the 2nd day in a row
WPP.L closes within previous day's range
TQ Sentiment
Technical Forecast:
Overview

Moving lower for the 2nd day in a row, WPP.L ended Thursday at 1230.00 losing £5.00 (-0.4%) on high volume. The bulls were in full control today, moving the market higher throughout the whole session. Closing within the prior day's range, prices failed to decisively move past the previous day's trading range.

Daily chart for WPP.L
Volatility

Thursday's trading range was £41.50 (3.48%), that's above last trading month's daily average range of £32.40. Weekly volatility is also higher, being slightly above the markets average with the monthly volatility being slightly below average.

Support/Resistance

Prices are trading close to a key support level at 1206.00.

Trend

WPP plc shows weakness in the short-term (in accordance with its long-term downtrend) with only the medium-term trend being bullish.

Conclusion

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

Market Conditions for WPP plc
ConditionForecastDirectionWinAvgWorstBestEvents
Down Close Near Low of Period TQ Pro Members Only
Bearish Bounce off SMA 50 TQ Pro Members Only
Closed below last periods low TQ Pro Members Only
Close to S1 Support TQ Pro Members Only
Black Candle TQ Pro Members Only
More market conditions identified for TQ Pro members...
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