ANN.AX breaks below 20-day moving average
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.
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.
Breaking below the key support level at 26.47 today, it is now likely to act as resistance going forward.
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.
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.
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
|Bearish Break through SMA 50||TQ Pro Members Only|
|3 Consecutive Lower Closes||TQ Pro Members Only|
|Close to R1 Resistance||TQ Pro Members Only|
|Bearish Break through SMA 100||TQ Pro Members Only|
|Closed below last periods low||TQ Pro Members Only|
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