APA.AX breaks below previous session low


APA Group (APA.AX) Technical Analysis Report for May 17, 2018

Highlights

APA.AX breaks key support level
APA.AX breaks below 50-day moving average
APA.AX fails to close above 50-day moving average
APA.AX closes lower for the 3rd day in a row
APA.AX breaks below previous session low

Overview

Moving lower for the 3rd day in a row, APA.AX ended Thursday at 7.96 losing A$0.10 (-1.24%). Today's closing price of 7.96 marks the lowest close since April 23rd. Closing below Wednesday's low at 8.03, the share confirms its breakout through the previous session's low having traded A$0.12 below it intraday.

Daily Candlestick Chart (APA.AX as at May 17, 2018):

Daily technical analysis candlestick chart for APA Group (APA.AX) as at May 17, 2018

Thursday's trading range was A$0.15 (1.87%), that's slightly above last trading month's daily average range of A$0.14. Weekly volatility is also higher, being way above the markets average with the monthly volatility being slightly below average.

Prices are trading close to a key support level at 7.87. Breaking below the key support level at 8.02 today, it is now likely to act as resistance going forward. After spiking up to 8.06 during the day, the stock found resistance at the 50-day moving average at 8.03.

APA Group shows weakness in the short-term (in accordance with its long-term downtrend) with only the medium-term trend being bullish. The market broke below the 50-day moving average at 8.03 today for the first time since April 23rd.


Market Conditions for APA.AX as at May 17, 2018

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