AHG.AX closes below its opening price unable to hold early session gains
Automotive Holdings (AHG.AX) Technical Analysis Report for Jun 14, 2018 | by Techniquant Editorial Team
Moving lower for the 2nd day in a row, AHG.AX finished Thursday at 2.78 losing A$0.03 (-1.07%). Today's closing price of 2.78 marks the lowest close since Inception. Trading A$0.05 higher after the open, the share was unable to hold its gains as the bears took control ending the day below its opening price. Ending the day with an indecisive close, neither buyers nor sellers were able to gain control during the session.
Daily Candlestick Chart (AHG.AX as at Jun 14, 2018):
Thursday's trading range was A$0.08 (2.87%), that's above last trading month's daily average range of A$0.07. Things look different on a weekly scale, where volatility is slightly below the markets average with the monthly volatility being way below average.
Prices are trading close to a key support level at 2.75.
The trend is clearly bearish, showing an intact downtrend in the short, medium and long-term.
Selling might speed up should prices move below the nearby swing low at 2.75 where further sell stops could get triggered.