BKL.AX falls to lowest close since July 10th
Blackmores Limited (BKL.AX) Technical Analysis Report for Aug 10, 2018 | by Techniquant Editorial Team
BKL.AX ended the week -3.44% lower at 143.20 after tanking A$3.55 (-2.42%) today. This is the biggest single day loss in over a month. Today's closing price of 143.20 marks the lowest close since July 10th. The bears were in full control today, moving the market lower throughout the whole session. Closing below Thursday's low at 146.01, the share confirms its breakout through the prior session's low having traded A$2.81 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 Aug 10, 2018):
Friday's trading range was A$3.96 (2.69%), that's slightly above last trading month's daily average range of A$3.58. Weekly volatility is also higher, being slightly above the markets average with the monthly volatility being slightly below average.
Breaking below the key support level at 144.10 today, it is now likely to act as resistance going forward.
While still in a long-term uptrend, the short and medium-term trends both turned bearish already. The market broke below the 200-day moving average at 146.18 today for the first time since July 12th.