ASHR slides to lowest close since May 7th


Xtrackers Harvest CSI 300 China A ETF (ASHR) Technical Analysis Report for May 17, 2018 [< 1 min read]
Highlights
ASHR breaks below 200-day moving average
ASHR breaks below previous session low
ASHR falls to lowest close since May 7th
TQ Sentiment
Report Sentiment: 50% Bearish
Technical Forecast:
Overview

ASHR ended Thursday at 30.32 losing $0.46 (-1.49%). Today's closing price of 30.32 marks the lowest close since May 7th. Closing below Wednesday's low at 30.60, the ETF confirms its breakout through the prior session's low having traded $0.33 below it intraday.

Daily chart for ASHR
Volatility

Thursday's trading range was $0.16 (0.53%), that's below last trading month's daily average range of $0.21. Things look different on a weekly scale, where volatility is slightly below the markets average with the monthly volatility being slightly below average.

Support/Resistance

Prices are trading close to a key support level at 30.26.

Trend

Although the market is experiencing a short-term up trend, this might just be a correction, as both the medium and long term trends are still in negative territory. ASHR broke below the 200-day moving average at 30.74 today for the first time since May 15th.

Conclusion

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

Market Conditions for Xtrackers Harvest CSI 300 China A ETF
Condition Forecast Direction Win Avg Worst Best Events
Bullish Engulfing Candle TQ Pro Members Only
Bullish Belt-hold TQ Pro Members Only
Decisive Up Move TQ Pro Members Only
White Candle TQ Pro Members Only
Close to S1 Support TQ Pro Members Only
More market conditions identified for TQ Pro members...
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