BAL.AX slides to lowest close since May 29th


Bellamy's Australia (BAL.AX) Technical Analysis Report for Jun 14, 2018 [< 1 min read]
Highlights
BAL.AX closes below its opening price unable to hold early session gains
BAL.AX fails to close above 20-day moving average
BAL.AX closes lower for the 2nd day in a row
BAL.AX falls to lowest close since May 29th
BAL.AX closes within previous day's range
TQ Sentiment
Technical Forecast:
Overview

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.

Daily chart for BAL.AX
Volatility

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.

Support/Resistance

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.

Trend

While still in a long-term uptrend, the short and medium-term trends both turned bearish already.

Order Flow

Further selling might move prices lower should the market test May's nearby low at 15.60.

Conclusion

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
ConditionForecastDirectionWinAvgWorstBest
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
More market conditions identified for TQ Pro members...
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Latest Report:

BAL.AX breaks key support level

Jun 18, 2018
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