A2M.AX breaks key support level

The a2 Milk Company (A2M.AX) Technical Analysis Report for Jul 13, 2018

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

TQ Sentiment

Report Sentiment: 50% Bearish
Technical Forecast:

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 chart for A2M.AX

Volatility

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.

Support/Resistance

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

Trend

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

Conclusion

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

Market Conditions for The a2 Milk Company

Loading Market Conditions for $A2M.AX (The a2 Milk Company)...
Trending Assets

Upgrade your trading!

Get the stats behind the charts

Find out what happened when The a2 Milk Company traded like this in the past. See the odds for each technical pattern with expected gain and loss.

Find out more
Top Market Movers

Related Stocks

AHY.AX 10 day candlestick chart for AHY.AX 0.78 0.08 (11.43%)
BAL.AX 10 day candlestick chart for BAL.AX 9.46 -0.15 (-1.56%)
BGA.AX 10 day candlestick chart for BGA.AX 6.93 0.18 (2.67%)
BKL.AX 10 day candlestick chart for BKL.AX 138.31 -0.59 (-0.42%)
CCL.AX 10 day candlestick chart for CCL.AX 9.49 -0.09 (-0.94%)
CGC.AX 10 day candlestick chart for CGC.AX 6.82 0.02 (0.29%)
GEM.AX 10 day candlestick chart for GEM.AX 2.02 0.04 (2.02%)
GNC.AX 10 day candlestick chart for GNC.AX 8.02 0.06 (0.75%)
IEL.AX 10 day candlestick chart for IEL.AX 10.05 -0.01 (-0.10%)
MTS.AX 10 day candlestick chart for MTS.AX 3.01 0.09 (3.08%)
You have free reports remaining. Subscribe for unlimited access...SUBSCRIBELOGINGO!