ANN.AX closes within prior day's range after lackluster session


Ansell Limited (ANN.AX) Technical Analysis Report for Aug 10, 2018 [< 1 min read]
Highlights
ANN.AX closes lower for the 2nd day in a row
ANN.AX falls to lowest close since July 23rd
ANN.AX closes within previous day's range after lackluster session
TQ Sentiment
Report Sentiment: 25% Bearish
Technical Forecast:
Overview

Moving lower for the 2nd day in a row, ANN.AX ended the week -1.63% lower at 28.29 after losing A$0.05 (-0.18%) today. Today's closing price of 28.29 marks the lowest close since July 23rd. Closing within the prior day's range, prices failed to decisively move beyond the previous day's trading range in a lackluster session.

Daily chart for ANN.AX
Volatility

Friday's trading range was A$0.32 (1.12%), that's below last trading month's daily average range of A$0.48. Things look different on a weekly scale, where volatility is way below the markets average with the monthly volatility being above average.

Support/Resistance

Prices are trading close to the key resistance level at 28.36.

Trend

While Ansell Limited is currently in a short-term down trend, this could just be a correction, as the medium and long term trends are both positive.

Conclusion

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

Market Conditions for Ansell Limited
Condition Forecast Direction Win Avg Worst Best Events
Close to R1 Resistance TQ Pro Members Only
Closed above last periods high TQ Pro Members Only
Bullish High-Wave Candle TQ Pro Members Only
2 Consecutive Higher Closes TQ Pro Members Only
Bullish Spinning Top TQ Pro Members Only
More market conditions identified for TQ Pro members...
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