APA.AX dominated by bears dragging the market lower throughout the day

APA Group (APA.AX) Technical Analysis Report for Jul 13, 2018 | by Techniquant Editorial Team


APA.AX dominated by bears dragging the market lower throughout the day
APA.AX finds buyers at key support level
APA.AX closes lower for the 6th day in a row
APA.AX breaks below previous session low
APA.AX falls to lowest close since June 14th


Moving lower for the 6th day in a row, APA.AX finished the week -4.36% lower at 9.66 after losing A$0.14 (-1.43%) today. Today's closing price of 9.66 marks the lowest close since June 14th. The bears were in full control today, moving the market lower throughout the whole session. Closing below Thursday's low at 9.76, the share confirms its breakout through the prior session's low having traded A$0.16 below it intraday.

Daily Candlestick Chart (APA.AX as at Jul 13, 2018):

Daily technical analysis candlestick chart for APA Group (APA.AX) as at Jul 13, 2018

Friday's trading range was A$0.23 (2.34%), that's far above last trading month's daily average range of A$0.14. Weekly volatility is also higher, being slightly above the markets average with the monthly volatility being way below average.

After trading as low as 9.60 during the day, APA Group bounced off the key support level at 9.64. The failure to close below the support might increase that levels importance as support going forward.

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

Market Conditions for APA.AX as at Jul 13, 2018

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