ALL.AX breaks key support level

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 Candlestick Chart (ALL.AX as at Sep 14, 2018):

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.