BKL.AX closes lower for the 2nd day in a row


Blackmores Limited (BKL.AX) Technical Analysis Report for Jun 14, 2018 [< 1 min read]
Highlights
BKL.AX closes lower for the 2nd day in a row
BKL.AX ends the day on a bearish note closing near the low of the day
BKL.AX runs into sellers again around 146.93
BKL.AX breaks below previous session low
TQ Sentiment
Report Sentiment: 50% Bearish
Technical Forecast:
Overview

Moving lower for the 2nd day in a row, BKL.AX finished Thursday at 142.30 losing A$3.93 (-2.69%). Closing below Wednesday's low at 143.62, the share confirms its breakout through the previous session's low having traded A$1.66 below it intraday. Ending with a weak close near the low of the day sets a bearish note for the next session.

Daily chart for BKL.AX
Volatility

Thursday's trading range was A$4.97 (3.42%), that's slightly above last trading month's daily average range of A$4.88. Things look different on a weekly scale, where volatility is below the markets average with the monthly volatility being slightly above average.

Support/Resistance

Prices are trading close to a key support level at 140.04. After having been unable to move above 147.20 in the prior session, the market ran into sellers again around the same price level today, failing to move higher than 146.93.

Trend

Blackmores Limited shows weakness in the short-term (in accordance with its long-term downtrend) with only the medium-term trend being bullish.

Order Flow

Selling could speed up should prices move below the close-by swing low at 140.04 where further sell stops might 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 Blackmores Limited
Condition Forecast Direction Win Avg Worst Best Events
Close to S1 Support TQ Pro Members Only
Closed above last periods high TQ Pro Members Only
Bounced off Technical Support S1 TQ Pro Members Only
Bullish Spinning Top TQ Pro Members Only
Bullish Intraday Reversal TQ Pro Members Only
More market conditions identified for TQ Pro members...
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