ALL.AX breaks key support level
Aristocrat Leisure (ALL.AX) Technical Analysis Report for Sep 14, 2018
Moving lower for the 4th day in a row, ALL.AX finished the week -2.33% lower at 28.91 after losing A$0.17 (-0.58%) today. Today's closing price of 28.91 marks the lowest close since May 23rd. Closing below Thursday's low at 29.04, the stock confirms its breakout through the prior session's low having traded A$0.84 below it intraday. Ending the day with an indecisive close, neither buyers nor sellers were able to gain control during the session.
Friday's trading range was A$0.86 (2.97%), that's far above last trading month's daily average range of A$0.60. Weekly volatility is also higher, being above the markets average with the monthly volatility being way above average.
Breaking below the key support level at 28.95 today, it is now likely to act as resistance going forward.
Though still in a long-term uptrend, the short and medium-term trends both turned bearish already.
While classical technical analysis indicates a neutral sentiment for the next trading day, our quantitative statistics show a different picture being bullish.
Market Conditions for Aristocrat Leisure
|Condition||Forecast||Direction||Direction||Win Rate||Win Rate||Exit Day||Exit Day||Events|
|Closed below last periods low||TQ Pro Members Only|
|Close to Swing Low||TQ Pro Members Only|
|Close to R1 Resistance||TQ Pro Members Only|
|RSI(2) below 20||TQ Pro Members Only|
|RSI(14) below 30||TQ Pro Members Only|
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