AHG.AX finds buyers at key support level

Automotive Holdings (AHG.AX) Technical Analysis Report for Jul 13, 2018

Highlights

AHG.AX finds buyers at key support level
AHG.AX breaks below previous session low

TQ Sentiment

Report Sentiment: 0% Neutral
Technical Forecast:

Overview

AHG.AX ended the week 1.57% higher at 2.58 after losing A$0.03 (-1.15%) today. Closing below Thursday's low at 2.60, Automotive Holdings confirms its breakout through the prior session's low having traded A$0.06 below it intraday.

Daily chart for AHG.AX

Volatility

Friday's trading range was A$0.10 (3.82%), that's slightly above last trading month's daily average range of A$0.10. Things look different on a weekly scale, where volatility is below the markets average with the monthly volatility being above average.

Support/Resistance

After trading as low as 2.54 during the day, the market bounced off the key support level at 2.54. The failure to close below the support might increase that levels importance as support going forward.

Trend

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

Order Flow

Selling could speed up should prices move below the close-by swing low at 2.52 where further sell stops might get triggered.

Conclusion

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

Market Conditions for Automotive Holdings

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