AHG.AX closes below its opening price unable to hold early session gains


Automotive Holdings (AHG.AX) Technical Analysis Report for Jun 14, 2018 [< 1 min read]
Highlights
AHG.AX closes below its opening price unable to hold early session gains
AHG.AX closes lower for the 2nd day in a row
AHG.AX falls to lowest close since Inception
AHG.AX ends the day indecisive
TQ Sentiment
Report Sentiment: 0% Neutral
Technical Forecast:
Overview

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 chart for AHG.AX
Volatility

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.

Support/Resistance

Prices are trading close to a key support level at 2.75.

Trend

The trend is clearly bearish, showing an intact downtrend in the short, medium and long-term.

Order Flow

Selling might speed up should prices move below the nearby swing low at 2.75 where further sell stops could get triggered.

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 Automotive Holdings
Condition Forecast Direction Win Avg Worst Best Events
Bullish Engulfing Candle TQ Pro Members Only
Low close to previous two Lows TQ Pro Members Only
Low close to previous low TQ Pro Members Only
Close to Swing High TQ Pro Members Only
Closed above last periods high TQ Pro Members Only
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