BAL.AX slides to lowest close since May 29th
Moving lower for the 2nd day in a row, BAL.AX finished Thursday at 16.21 losing A$0.14 (-0.86%). Today's closing price of 16.21 marks the lowest close since May 29th. Trading A$0.37 higher after the open, the stock was unable to hold its gains as the bears took control ending the day below its opening price. Closing within the prior day's range, prices failed to decisively move beyond the previous day's trading range. Ending the day with an indecisive close, neither buyers nor sellers were able to gain control during the session.
Thursday's trading range was A$0.69 (4.21%), that's slightly below last trading month's daily average range of A$0.85. Things look different on a weekly scale, where volatility is slightly below the markets average with the monthly volatility being below average.
Prices are trading close to a key support level at 15.70. After spiking up to 16.75 during the day, Bellamy's Australia found resistance at the 20-day moving average at 16.65.
While still in a long-term uptrend, the short and medium-term trends both turned bearish already.
Further selling might move prices lower should the market test May's nearby low at 15.60.
Both sentiments, the classical technical analysis and our quantitative statistics are in perfect alignment today showing a neutral sentiment for the next trading day.
Market Conditions for Bellamy's Australia
|Down Close Near Low of Period||TQ Pro Members Only|
|Close to R1 Resistance||TQ Pro Members Only|
|Black Candle||TQ Pro Members Only|
|Close to Swing High||TQ Pro Members Only|
|High close to previous High||TQ Pro Members Only|
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