AGL.AX closes within prior day's range after lackluster session

AGL Energy Ltd (AGL.AX) Technical Analysis Report for Jun 14, 2018 | by Techniquant Editorial Team


AGL.AX breaks below 20-day moving average
AGL.AX closes above its opening price after recovering from early selling pressure
AGL.AX finds support at 50-day moving average
AGL.AX runs into sellers again around 21.56
AGL.AX closes within previous day's range after lackluster session


AGL.AX ended Thursday at 21.44 losing A$0.11 (-0.51%). Trading up to A$0.11 lower after the open, the stock managed to reverse during the session as bulls took control ending the day above its opening price. Closing within the previous day's range, prices failed to decisively move past the prior day's trading range in a lackluster session. Ending the day with an indecisive close, neither buyers nor sellers were able to gain control during the session.

Daily Candlestick Chart (AGL.AX as at Jun 14, 2018):

Daily technical analysis candlestick chart for AGL Energy Ltd (AGL.AX) as at Jun 14, 2018

Thursday's trading range was A$0.25 (1.17%), that's below last trading month's daily average range of A$0.37. Things look different on a weekly scale, where volatility is slightly above the markets average with the monthly volatility being slightly below average.

During the whole day, prices traded within the previous day's range, unable to trade above the prior day's high or below the previous day's low forming an Inside Bar.

Prices are trading close to a key support level at 21.27. After having been unable to move above 21.60 in the prior session, AGL Energy ran into sellers again around the same price level today, failing to move higher than 21.56. After trading as low as 21.31 during the day, the share found support at the 50-day moving average at 21.42.

The trend is clearly bearish, showing an intact downtrend in the short, medium and long-term. The market broke below the 20-day moving average at 21.48 today for the first time since June 1st.

Buying could accelerate should prices move above the nearby swing high at 21.60 where further buy stops might get activated.

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