ASHR closes above its opening price after recovering from early selling pressure


Xtrackers Harvest CSI 300 China A-Shares (ASHR) Technical Analysis Report for Apr 16, 2018 | by Techniquant Editorial Team

Highlights

ASHR closes above its opening price after recovering from early selling pressure
ASHR finds buyers at key support level
ASHR finds support at 200-day moving average
ASHR closes lower for the 3rd day in a row
ASHR breaks below previous session low

Overview

Moving lower for the 3rd day in a row, ASHR finished Monday at 30.32 losing $0.37 (-1.21%) on low volume. Today's closing price of 30.32 marks the lowest close since April 6th. Trading up to $0.09 lower after the open, the market managed to reverse during the session as bulls took control ending the day above its opening price. Closing below Friday's low at 30.65, the ETF confirms its breakout through the previous session's low having traded $0.44 below it intraday. 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 Apr 16, 2018):

Daily technical analysis candlestick chart for Xtrackers Harvest CSI 300 China A-Shares (ASHR) as at Apr 16, 2018

Monday's trading range was $0.19 (0.63%), that's below last trading month's daily average range of $0.35. Things look different on a weekly scale, where volatility is slightly above the markets average with the monthly volatility being slightly below average.

After trading as low as 30.21 during the day, ASHR bounced off the key support level at 30.26. The failure to close below the support could increase that levels importance as support going forward. After trading as low as 30.21 during the day, the market found support at the 200-day moving average at 30.30.

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

Further selling might move prices lower should the market test March's close-by low at 30.10.


Market Conditions for ASHR as at Apr 16, 2018

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

Upgrade your trading!

Get the stats behind the charts

Find out what happened when Xtrackers Harvest CSI 300 China A-Shares traded like this in the past. See the odds for each technical pattern with expected gain and loss.

Find out more
Top Movers
You have free reports remaining. Subscribe for unlimited access...SUBSCRIBELOGINGO!