BPT.AX ends the day on a bearish note closing near the low of the day


Beach Energy Limited (BPT.AX) Technical Analysis Report for Aug 10, 2018 [< 1 min read]
Highlights
BPT.AX crashes, loses A$0.07 (-3.52%) within a single day
BPT.AX closes lower for the 2nd day in a row
BPT.AX ends the day on a bearish note closing near the low of the day
BPT.AX breaks below previous session low
TQ Sentiment
Report Sentiment: 75% Bearish
Technical Forecast:
Overview

Moving lower for the 2nd day in a row, BPT.AX ended the week 1.05% higher at 1.92 after tanking A$0.07 (-3.52%) today on high volume. This is the biggest single day loss in over a month. Closing below Thursday's low at 1.93, the share confirms its breakout through the prior session's low having traded A$0.02 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 BPT.AX
Volatility

Friday's trading range was A$0.07 (3.57%), that's above last trading month's daily average range of A$0.05. Weekly volatility is also higher, being above the markets average with the monthly volatility being slightly above average.

Trend

The trend is clearly bullish, showing an intact uptrend in the short, medium and long-term.

Conclusion

While classical technical analysis indicates a bearish sentiment for the next trading day, our quantitative statistics show a different picture being slightly bullish.

Market Conditions for Beach Energy Limited
Condition Forecast Direction Win Avg Worst Best Events
Close to S1 Support TQ Pro Members Only
Close to Swing Low TQ Pro Members Only
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