A2M.AX breaks key support level


The a2 Milk Company (A2M.AX) Technical Analysis Report for Jul 13, 2018 | by Techniquant Editorial Team

Highlights

A2M.AX breaks key support level
A2M.AX closes lower for the 2nd day in a row
A2M.AX breaks below previous session low
A2M.AX falls to lowest close since June 6th

Overview

Moving lower for the 2nd day in a row, A2M.AX ended the week -2.09% lower at 10.29 after losing A$0.21 (-2.0%) today on high volume. Today's closing price of 10.29 marks the lowest close since June 6th. Closing below Thursday's low at 10.38, The a2 confirms its breakout through the prior session's low having traded A$0.16 below it intraday.

Daily Candlestick Chart (A2M.AX as at Jul 13, 2018):

Daily technical analysis candlestick chart for The a2 Milk Company (A2M.AX) as at Jul 13, 2018

Friday's trading range was A$0.26 (2.49%), that's below last trading month's daily average range of A$0.33. Things look different on a weekly scale, where volatility is slightly below the markets average with the monthly volatility being slightly below average.

Breaking below the key support level at 10.35 today, it is now likely to act as resistance going forward.

Although still in a long-term uptrend, the short and medium-term trends both turned bearish already.


Market Conditions for A2M.AX as at Jul 13, 2018

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