ANTO.L finds buyers at key support level


Antofagasta plc (ANTO.L) Technical Analysis Report for Jun 14, 2018 [< 1 min read]
Highlights
ANTO.L finds buyers at key support level
ANTO.L falls to lowest close since May 31st
ANTO.L closes within previous day's range
ANTO.L ends the day indecisive
TQ Sentiment
Technical Forecast:
Overview

ANTO.L ended Thursday at 1065.00 losing £16.50 (-1.53%). Today's closing price of 1065.00 marks the lowest close since May 31st. Closing within the previous day's range, prices failed to decisively move past the prior day's trading range. Ending the day with an indecisive close, neither buyers nor sellers were able to gain control during the session.

Daily chart for ANTO.L
Volatility

Thursday's trading range was £23.50 (2.19%), that's slightly below last trading month's daily average range of £24.68. 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

After trading as low as 1053.00 during the day, the market bounced off the key support level at 1058.00. The failure to close below the support could increase that levels importance as support going forward.

Trend

The trend is clearly bullish, showing an intact uptrend 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.

Market Conditions for Antofagasta plc
ConditionForecastDirectionWinAvgWorstBestEvents
4 Consecutive Lower Closes TQ Pro Members Only
Closed below last periods low TQ Pro Members Only
Close to S1 Support TQ Pro Members Only
Bullish Spinning Top TQ Pro Members Only
Bullish Intraday Reversal TQ Pro Members Only
More market conditions identified for TQ Pro members...
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