ANN.AX breaks below 20-day moving average
Ansell Limited (ANN.AX) Technical Analysis Report for Jul 13, 2018
ANN.AX ended the week 0.26% higher at 27.29 after losing A$0.13 (-0.47%) today. Closing within the prior day's range, prices failed to decisively move beyond the previous day's trading range.
Friday's trading range was A$0.41 (1.49%), that's slightly below last trading month's daily average range of A$0.44. Things look different on a weekly scale, where volatility is slightly above the markets average with the monthly volatility being below average.
During the whole day, prices traded within the prior day's range, unable to trade above the previous day's high or below the prior day's low forming an Inside Bar. Despite a strong opening the share closed below the previous day's open and close, forming a bearish Engulfing Candle.
Prices are trading close to a key support level at 26.99. After having been unable to move lower than 27.05 in the prior session, the market found buyers again around the same price level today at 27.06.
The trend is clearly bullish, showing an intact uptrend in the short, medium and long-term. Ansell Limited broke below the 20-day moving average at 27.42 today for the first time since July 5th.
While classical technical analysis indicates a neutral sentiment for the next trading day, our quantitative statistics show a different picture being bullish.