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


AGL Energy Ltd (AGL.AX) Technical Analysis Report for Jun 14, 2018 [1 min read]
Highlights
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
TQ Sentiment
Report Sentiment: 33% Bullish
Technical Forecast:
Overview

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 chart for AGL.AX
Volatility

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.

Price Action

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.

Support/Resistance

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.

Trend

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.

Order Flow

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

Conclusion

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

Market Conditions for AGL Energy Ltd
Condition Forecast Direction Win Avg Worst Best Events
Bullish Break through SMA 100 TQ Pro Members Only
Close to R1 Resistance TQ Pro Members Only
Bearish Bounce off SMA 50 TQ Pro Members Only
Bullish Bounce off SMA 100 TQ Pro Members Only
Closed above last periods high TQ Pro Members Only
More market conditions identified for TQ Pro members...
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