ANTO.L breaks below 200-day moving average


Antofagasta plc (ANTO.L) Technical Analysis Report for Aug 10, 2018 [< 1 min read]
Highlights
ANTO.L breaks below 200-day moving average
ANTO.L closes within previous day's range after lackluster session
ANTO.L ends the day indecisive
TQ Sentiment
Report Sentiment: 20% Bearish
Technical Forecast:
Overview

ANTO.L finished the week 0.17% higher at 961.20 after losing £17.80 (-1.82%) today. Closing within the prior day's range, prices failed to decisively move beyond the previous day's trading range in a lackluster session. 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

Friday's trading range was £18.20 (1.88%), that's below last trading month's daily average range of £24.69. Things look different on a weekly scale, where volatility is below the markets average with the monthly volatility being slightly below average.

Trend

While still in a long-term uptrend, the short and medium-term trends both turned bearish already. The market broke below the 200-day moving average at 966.73 today for the first time since August 2nd.

Order Flow

Buying might speed up should prices move above the nearby swing high at 984.20 where further buy stops could get activated. Selling might accelerate should prices move below the close-by swing low at 939.60 where further sell stops could get triggered. Further selling might move prices lower should the market test July's nearby low at 925.00.

Conclusion

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

Market Conditions for Antofagasta plc
Condition Forecast Direction Win Avg Worst Best Events
Down Close Near Low of Period TQ Pro Members Only
4 Consecutive Lower Closes TQ Pro Members Only
Closed below last periods low TQ Pro Members Only
52 Week Low TQ Pro Members Only
Very Strong Down Move TQ Pro Members Only
More market conditions identified for TQ Pro members...
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