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AMP.AX closes lower for the 2nd day in a row


Technical Analysis Report for AMP.AX - Apr 17, 2018 [< 1 min read]
Highlights
AMP.AX finds buyers at key support level
AMP.AX closes lower for the 2nd day in a row
AMP.AX breaks below previous session low
TQ Sentiment
Technical Forecast:
Overview

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 chart for AMP.AX
Volatility

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.

Support/Resistance

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.

Trend

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

Conclusion

While classical technical analysis indicates a neutral sentiment for the next trading day, our quantitative statistics show a different picture being bearish.

Report Market Conditions
ConditionForecastDirectionWinAvgWorstBest
Bounced off Technical Support S1 TQ Pro Members Only
Closed below last periods low TQ Pro Members Only
Close to R1 Resistance TQ Pro Members Only
2 Consecutive Lower Closes TQ Pro Members Only
More market conditions identified for TQ Pro members...
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