BLD.AX finds buyers at key support level


Boral Limited (BLD.AX) Technical Analysis Report for Jul 13, 2018 [< 1 min read]
Highlights
BLD.AX finds buyers at key support level
BLD.AX pushes through 50-day moving average
BLD.AX finds support at 50-day moving average
BLD.AX closes within previous day's range after lackluster session
TQ Sentiment
Report Sentiment: 60% Bullish
Technical Forecast:
Overview

BLD.AX finished the week -1.37% lower at 6.47 after gaining A$0.01 (0.15%) today. Closing within the prior day's range, prices failed to decisively move past the previous day's trading range in a lackluster session.

Daily chart for BLD.AX
Volatility

Friday's trading range was A$0.06 (0.92%), that's far below last trading month's daily average range of A$0.11. Things look different on a weekly scale, where volatility is slightly below the markets average with the monthly volatility being slightly above average.

Support/Resistance

After trading as low as 6.44 during the day, the share bounced off the key support level at 6.45. The failure to close below the support might increase that levels importance as support going forward. After trading as low as 6.44 during the day, the market found support at the 50-day moving average at 6.47.

Trend

The trend is clearly bearish, showing an intact downtrend in the short, medium and long-term. Boral Limited managed to break above the 50-day moving average at 6.47 today for the first time since July 5th.

Order Flow

Selling could speed up should prices move below the nearby swing low at 6.42 where further sell stops might get triggered.

Conclusion

Both sentiments, the classical technical analysis and our quantitative statistics are in perfect alignment today showing a slightly bullish sentiment for the next trading day.

Market Conditions for Boral Limited
ConditionForecastDirectionWinAvgWorstBestEvents
Black Candle TQ Pro Members Only
Close to S1 Support TQ Pro Members Only
Close to Swing High TQ Pro Members Only
Price broke through Technical Support S1 TQ Pro Members Only
RSI(2) below 20 TQ Pro Members Only
More market conditions identified for TQ Pro members...
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