ALQ.AX dominated by bears dragging the market lower throughout the day


Als Limited (ALQ.AX) Technical Analysis Report for Aug 10, 2018

Highlights

ALQ.AX dominated by bears dragging the market lower throughout the day
ALQ.AX ends the day on a bearish note closing near the low of the day
ALQ.AX breaks below previous session low

Overview

ALQ.AX ended the week 4.29% higher at 8.99 after losing A$0.28 (-3.02%) today. The bears were in full control today, moving the market lower throughout the whole session. Closing below Thursday's low at 9.10, the stock confirms its breakout through the previous session's low having traded A$0.14 below it intraday. Ending with a weak close near the low of the day sets a bearish note for the next session.

Daily Candlestick Chart (ALQ.AX as at Aug 10, 2018):

Daily technical analysis candlestick chart for Als Limited (ALQ.AX) as at Aug 10, 2018

Friday's trading range was A$0.44 (4.7%), that's far above last trading month's daily average range of A$0.21. Weekly volatility is also higher, being slightly above the markets average with the monthly volatility being way above average.

In a volatile session, prices traded above the prior day's high as well as below the previous day's low, forming a bearish Outside Bar. Regardless of a strong opening Als Limited closed below the prior day's open and close, forming a bearish Engulfing Candle.

Prices are trading close to a key support level at 8.84.

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


Market Conditions for ALQ.AX as at Aug 10, 2018

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