ASL.AX closes within previous day's range after lackluster session

Ausdrill Limited (ASL.AX) Technical Analysis Report for Jul 13, 2018

Highlights

ASL.AX closes within previous day's range after lackluster session
ASL.AX ends the day indecisive

TQ Sentiment

Report Sentiment:
Neutral
Technical Forecast:

Overview

ASL.AX ended the week -5.06% lower at 1.69 after gaining A$0.02 (1.2%) today on low volume. Closing within the prior day's range, prices failed to decisively move past 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 ASL.AX

Volatility

Friday's trading range was A$0.03 (1.76%), that's far below last trading month's daily average range of A$0.07. Things look different on a weekly scale, where volatility is slightly below the markets average with the monthly volatility being way below average.

Price Action

During the whole day, prices traded within the prior day's range, unable to trade above the previous day's high or below the prior day's low forming an Inside Bar.

Trend

The trend is clearly bearish, showing an intact downtrend in the short, medium and long-term.

Order Flow

Selling might speed up should prices move below the nearby swing low at 1.63 where further sell stops could get triggered.

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 Ausdrill Limited

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