AMP.AX closes lower for the 2nd day in a row
AMP Limited (AMP.AX) Technical Analysis Report for Apr 17, 2018 | by Techniquant Editorial Team
Moving lower for the 2nd day in a row, AMP.AX finished Tuesday at 4.76 losing A$0.02 (-0.42%). Closing below Saturday's low at 4.78, the stock confirms its breakout through the previous session's low having traded A$0.07 below it intraday.
Daily Candlestick Chart (AMP.AX as at Apr 17, 2018):
Tuesday's trading range was A$0.09 (1.88%), that's slightly above last trading month's daily average range of A$0.08. Things look different on a weekly scale, where volatility is below the markets average with the monthly volatility being above average.
After trading as low as 4.71 during the day, the share bounced off the key support level at 4.72. The failure to close below the support could increase that levels importance as support going forward. Prices are trading close to the key resistance level at 4.82.
The trend is clearly bearish, showing an intact downtrend in the short, medium and long-term.