ASX.AX dominated by bears dragging the market lower throughout the day
ASX.AX finished the week 1.37% higher at 67.15 after losing A$0.56 (-0.83%) today on low volume. The bears were in full control today, moving the market lower throughout the whole session. Closing within the previous day's range, prices failed to decisively move beyond the prior day's trading range. Ending with a weak close near the low of the day sets a bearish note for the next session.
Friday's trading range was A$1.05 (1.54%), that's far above last trading month's daily average range of A$0.79. Weekly volatility is also higher, being slightly above the markets average with the monthly volatility being slightly above average.
Prices are trading close to a key support level at 67.06.
The trend is clearly bullish, showing an intact uptrend in the short, medium and long-term.
While classical technical analysis indicates a neutral sentiment for the next trading day, our quantitative statistics show a different picture being bullish.
Market Conditions for ASX Limited
|Close to S1 Support||TQ Pro Members Only|
|Bounced off Technical Support S1||TQ Pro Members Only|
|5 Consecutive Higher Closes||TQ Pro Members Only|
|52 Week High||TQ Pro Members Only|
More market conditions identified for TQ Pro members...
Learn more about TQ Pro