BKL.AX falls to lowest close since July 10th


Blackmores Limited (BKL.AX) Technical Analysis Report for Aug 10, 2018 [< 1 min read]
Highlights
BKL.AX crashes, loses A$3.55 (-2.42%) within a single day
BKL.AX breaks key support level
BKL.AX dominated by bears dragging the market lower throughout the day
BKL.AX breaks below 200-day moving average
BKL.AX ends the day on a bearish note closing near the low of the day
TQ Sentiment
Report Sentiment: 85% Bearish
Technical Forecast:
Overview

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 chart for BKL.AX
Volatility

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.

Support/Resistance

Breaking below the key support level at 144.10 today, it is now likely to act as resistance going forward.

Trend

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.

Conclusion

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
Condition Forecast Direction Win Avg Worst Best Events
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
More market conditions identified for TQ Pro members...
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