API.AX snaps to lowest close since April 24th
Moving lower for the 4th day in a row, API.AX ended Thursday at 1.30 losing A$0.02 (-1.52%). Today's closing price of 1.30 marks the lowest close since April 24th. Trading A$0.02 higher after the open, Australian Pharm was unable to hold its gains as the bears took control ending the day below its opening price. Closing below Wednesday's low at 1.31, the stock confirms its breakout through the prior session's low having traded A$0.01 below it intraday. Ending with a weak close near the low of the day sets a bearish note for the next session.
Thursday's trading range was A$0.04 (3.03%), that's above last trading month's daily average range of A$0.03. Weekly volatility is also higher, being slightly above the markets average with the monthly volatility being below average.
After spiking up to 1.34 during the day, the market found resistance at the 20-day moving average at 1.34.
The trend is clearly bearish, showing an intact downtrend in the short, medium and long-term.
Even though both sentiments are bearish for the next trading day, our quantitative statistics are only slightly bearish while the classical technical analysis metrics show a bearish sentiment.
Market Conditions for Australian Pharm
|Bullish Bounce off SMA 20||TQ Pro Members Only|
|Up Close near high of period||TQ Pro Members Only|
|High close to previous High||TQ Pro Members Only|
|Bullish Intraday Reversal||TQ Pro Members Only|
|Close near high of period||TQ Pro Members Only|
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