ASHR unable to break through key resistance level

Xtrackers Harvest CSI 300 China A-Shares (ASHR) Technical Analysis Report for Oct 20, 2020 | by Techniquant Editorial Team


ASHR unable to break through key resistance level
ASHR still stuck within tight trading range
ASHR ends the day indecisive


ASHR ended Tuesday at 36.50 gaining $0.44 (1.22%). 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 Oct 20, 2020):

Daily technical analysis candlestick chart for Xtrackers Harvest CSI 300 China A-Shares (ASHR) as at Oct 20, 2020

Tuesday's trading range has been $0.21 (0.58%), that's slightly below the last trading month's daily average range of $0.26. Weekly volatility is also lower, being below the market's average weekly trading range. The longer-term, monthly volatility is currently slightly higher than usual for ASHR. Prices continued to consolidate within a tight trading range between 36.01 and 36.60 where it has been caught now for the whole last trading week.

Unable to break through the key technical resistance level at 36.55 (R1), Xtrackers Harvest closed below it after spiking up to 36.60 earlier during the day. The failure to close above the resistance might increase that levels significance going forward. When prices bounced off a significant resistance level the last time on September 11th, ASHR actually gained 1.55% on the following trading day.

The trend is clearly bullish, showing an intact uptrend in the short, medium and long-term.

Market Conditions for ASHR as at Oct 20, 2020

Loading Market Conditions for ASHR (Xtrackers Harvest CSI 300 China A-Shares)...
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