ASHR ends the day indecisive
Xtrackers Harvest CSI 300 China A-Shares (ASHR) Technical Analysis Report for Jun 30, 2020 | by Techniquant Editorial Team
Moving higher for the 2nd day in a row, ASHR finished the month 9.11% higher at 29.71 after gaining $0.31 (1.05%) today. Today's close at 29.71 marks the highest recorded closing price since March 10th. Trading up to $0.08 lower after the open, Xtrackers Harvest managed to reverse during the session as bulls took control ending the day above its opening price. Ending the day with an indecisive close, neither buyers nor sellers were able to gain control during the session.
Daily Candlestick Chart (ASHR as at Jun 30, 2020):
Tuesday's trading range has been $0.15 (0.51%), that's below the last trading month's daily average range of $0.25. Weekly volatility is also lower, being slightly below the market's average weekly trading range. The longer-term, monthly volatility is currently slightly lower than usual for ASHR.
One bullish candlestick pattern matches today's price action, the Bullish Spinning Top. The last time a Bullish Spinning Top showed up on June 9th, ASHR gained 0.67% on the following trading day.
The trend is clearly bullish, showing an intact uptrend in the short, medium and long-term.
Among the five market conditions that our pattern recognition engine identified today, the statistics for the Price Action based market condition "2 Consecutive Higher Closes" stand out. Its common bullish interpretation has been confirmed for Xtrackers Harvest. Out of 221 times, ASHR closed higher 50.23% of the time on the next trading day after the market condition occurred. The optimal exit for swing trading this condition on the long side has been after 10 trading days, showing a win rate of 55.20% with an average market move of -0.23%.