ALL.AX breaks key support level

Aristocrat Leisure (ALL.AX) Technical Analysis Report for Sep 14, 2018

Highlights

ALL.AX breaks key support level
ALL.AX closes lower for the 4th day in a row
ALL.AX breaks below previous session low
ALL.AX falls to lowest close since May 23rd
ALL.AX ends the day indecisive

TQ Sentiment

Report Sentiment: 40% Bearish
Technical Forecast:

Overview

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.

Daily chart for ALL.AX

Volatility

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.

Support/Resistance

Breaking below the key support level at 28.95 today, it is now likely to act as resistance going forward.

Trend

Though still in a long-term uptrend, the short and medium-term trends both turned bearish already.

Conclusion

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 Win Rate 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
More market conditions identified for TQ Pro members...
Learn more about TQ Pro
Trending Assets

Upgrade your trading!

Get the stats behind the charts

Find out what happened when Aristocrat Leisure traded like this in the past. See the odds for each technical pattern with expected gain and loss.

Find out more
Top Market Movers

Related Stocks

ALL.AX 10 day candlestick chart for ALL.AX 28.69 -0.44 (-1.51%)
ALU.AX 10 day candlestick chart for ALU.AX 25.17 -1.12 (-4.26%)
BRG.AX 10 day candlestick chart for BRG.AX 12.85 -0.35 (-2.65%)
CAR.AX 10 day candlestick chart for CAR.AX 15.04 0.05 (0.33%)
CPU.AX 10 day candlestick chart for CPU.AX 19.40 -0.10 (-0.51%)
DHG.AX 10 day candlestick chart for DHG.AX 3.46 -0.02 (-0.57%)
IRE.AX 10 day candlestick chart for IRE.AX 12.69 -0.11 (-0.86%)
MYO.AX 10 day candlestick chart for MYO.AX 2.97 -0.03 (-1.00%)
NXT.AX 10 day candlestick chart for NXT.AX 6.17 0.03 (0.49%)
REA.AX 10 day candlestick chart for REA.AX 83.24 -0.72 (-0.86%)
You have free reports remaining. Subscribe for unlimited access...SUBSCRIBELOGINGO!