ANN.AX breaks below 20-day moving average


Ansell Limited (ANN.AX) Technical Analysis Report for Jun 14, 2018 [1 min read]
Highlights
ANN.AX breaks key support level
ANN.AX breaks below 20-day moving average
ANN.AX closes below its opening price unable to hold early session gains
ANN.AX closes lower for the 3rd day in a row
ANN.AX breaks below previous session low
TQ Sentiment
Technical Forecast:
Overview

Moving lower for the 3rd day in a row, ANN.AX finished Thursday at 26.33 losing A$0.17 (-0.64%). Today's closing price of 26.33 marks the lowest close since June 5th. Trading A$0.20 higher after the open, Ansell Limited was unable to hold its gains as the bears took control ending the day below its opening price. Closing below Wednesday's low at 26.36, the stock confirms its breakout through the prior session's low having traded A$0.13 below it intraday.

Daily chart for ANN.AX
Volatility

Thursday's trading range was A$0.47 (1.77%), that's slightly above last trading month's daily average range of A$0.41. Things look different on a weekly scale, where volatility is slightly below the markets average with the monthly volatility being slightly below average.

Support/Resistance

Breaking below the key support level at 26.47 today, it is now likely to act as resistance going forward.

Trend

The trend is clearly bullish, showing an intact uptrend in the short, medium and long-term. The share broke below the 20-day moving average at 26.42 today for the first time since May 23rd.

Order Flow

Selling could speed up should prices move below the nearby swing low at 26.02 where further sell stops might get activated. Further selling could move prices lower should the market test May's close-by low at 25.73.

Conclusion

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

Market Conditions for Ansell Limited
ConditionForecastDirectionWinAvgWorstBestEvents
Strong Up Move TQ Pro Members Only
4 Consecutive Higher Closes TQ Pro Members Only
White Candle TQ Pro Members Only
Close to S1 Support TQ Pro Members Only
RSI(14) above 70 TQ Pro Members Only
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