WTB.L breaks below 100-day moving average


Whitbread (WTB.L) Technical Analysis Report for Jul 13, 2018 [1 min read]
Highlights
WTB.L breaks key support level
WTB.L breaks below 100-day moving average
WTB.L finds support at 20-day moving average
WTB.L ends the day on a bearish note closing near the low of the day
WTB.L finds buyers again around 3996.00
TQ Sentiment
Report Sentiment: 42% Bearish
Technical Forecast:
Overview

WTB.L ended the week 0.38% higher at 4000.00 after losing £40.00 (-0.99%) today. Closing within the previous day's range, prices failed to decisively move past 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 WTB.L
Volatility

Friday's trading range was £79.00 (1.95%), that's slightly above last trading month's daily average range of £65.70. Things look different on a weekly scale, where volatility is slightly below the markets average with the monthly volatility being below average.

Support/Resistance

Breaking below the key support level at 4008.00 today, it is now likely to act as resistance going forward. After having been unable to move lower than 3993.00 in the previous session, Whitbread found buyers again around the same price level today at 3996.00. After trading as low as 3996.00 during the day, the share found support at the 20-day moving average at 3998.85.

Trend

The stock shows strength in the short-term supported by its long-term uptrend with only the medium-term trend being bearish. The market broke below the 100-day moving average at 4013.46 today for the first time since July 10th.

Order Flow

Selling might accelerate should prices move below the nearby swing low at 3945.00 where further sell stops could get triggered.

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 Whitbread
ConditionForecastDirectionWinAvgWorstBestEvents
Close near high of period TQ Pro Members Only
Bullish Break through SMA 100 TQ Pro Members Only
Price broke through Technical Resistance R1 TQ Pro Members Only
Close to S1 Support TQ Pro Members Only
Bullish Bounce off SMA 20 TQ Pro Members Only
More market conditions identified for TQ Pro members...
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