BKL.AX falls to lowest close since July 10th
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.
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.
While classical technical analysis indicates a very bearish sentiment for the next trading day, our quantitative statistics show a different picture being slightly bullish.
Market Conditions for Blackmores Limited
|Close to R1 Resistance||TQ Pro Members Only|
|2 Consecutive Lower Closes||TQ Pro Members Only|
|Close to S1 Support||TQ Pro Members Only|
|Bearish Break through SMA 200||TQ Pro Members Only|
|Close to Swing High||TQ Pro Members Only|
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