AHY.AX fails to close above 50-day moving average
Asaleo Care Limited (AHY.AX) Technical Analysis Report for Jun 14, 2018 | by Techniquant Editorial Team
AHY.AX finished Thursday at 1.32 flat. Ending the day with an indecisive close, neither buyers nor sellers were able to gain control during the session.
Daily Candlestick Chart (AHY.AX as at Jun 14, 2018):
Thursday's trading range was A$0.04 (3.03%), that's slightly below last trading month's daily average range of A$0.04. Things look different on a weekly scale, where volatility is slightly below the markets average with the monthly volatility being slightly above average.
After spiking up to 1.35 during the day, the market found resistance at the 50-day moving average at 1.33.
The share shows weakness in the short-term (in accordance with its long-term downtrend) with only the medium-term trend being bullish.
With prices trading close to this year's low at 1.23, downside momentum might speed up should Asaleo Care break out to new lows for the year.