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

Blackmores Limited (BKL.AX) Technical Analysis Report for Jun 14, 2018 | by Techniquant Editorial Team


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


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 Candlestick Chart (BKL.AX as at Jun 14, 2018):

Daily technical analysis candlestick chart for Blackmores Limited (BKL.AX) as at Jun 14, 2018

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.

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.

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

Selling could speed up should prices move below the close-by swing low at 140.04 where further sell stops might get triggered.

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