BKL.AX stuck within tight trading range


Blackmores Limited (BKL.AX) Technical Analysis Report for Jul 13, 2018 [< 1 min read]
Highlights
BKL.AX pushes through 200-day moving average
BKL.AX stuck within tight trading range
BKL.AX closes within previous day's range after lackluster session
TQ Sentiment
Report Sentiment: 0% Neutral
Technical Forecast:
Overview

BKL.AX finished the week 2.67% higher at 144.82 after gaining A$0.93 (0.65%) today. Closing within the previous day's range, prices failed to decisively move past the prior day's trading range in a lackluster session.

Daily chart for BKL.AX
Volatility

Friday's trading range was A$1.64 (1.14%), that's far below last trading month's daily average range of A$3.82. Things look different on a weekly scale, where volatility is slightly below the markets average with the monthly volatility being below average. Prices continued to consolidate within a tight trading range between 142.63 and 146.86 which it has been in now for the last three days.

Price Action

During the whole day, prices traded within the previous day's range, unable to trade above the prior day's high or below the previous day's low forming an Inside Bar.

Support/Resistance

Prices are trading close to the key resistance level at 145.50.

Trend

While still in a long-term downtrend, the short and medium-term trends both turned bullish already. The share managed to break above the 200-day moving average at 144.23 today for the first time since July 11th.

Order Flow

Buying might accelerate should prices move above the close-by swing high at 146.86 where further buy stops could 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
ConditionForecastDirectionWinAvgWorstBestEvents
Rickshaw-Man TQ Pro Members Only
Northern Doji TQ Pro Members Only
High close to previous High TQ Pro Members Only
Doji TQ Pro Members Only
Long-Legged Doji TQ Pro Members Only
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