ASHR slides to lowest close since May 7th
Xtrackers Harvest CSI 300 China A-Shares (ASHR) Technical Analysis Report for May 17, 2018 | by Techniquant Editorial Team
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 Candlestick Chart (ASHR as at May 17, 2018):
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.
Prices are trading close to a key support level at 30.26.
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.