BRG.AX closes lower for the 2nd day in a row


Breville Group Limited (BRG.AX) Technical Analysis Report for Jun 14, 2018 [1 min read]
Highlights
BRG.AX breaks below 20-day moving average
BRG.AX closes below its opening price unable to hold early session gains
BRG.AX unable to break through key resistance level
BRG.AX fails to close above 20-day moving average
BRG.AX closes lower for the 2nd day in a row
TQ Sentiment
Technical Forecast:
Overview

Moving lower for the 2nd day in a row, BRG.AX ended Thursday at 11.38 losing A$0.13 (-1.13%). Trading A$0.19 higher after the open, Breville Group was unable to hold its gains as the bears took control ending the day below its opening price. Closing below Wednesday's low at 11.48, the share confirms its breakout through the previous session's low having traded A$0.12 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 BRG.AX
Volatility

Thursday's trading range was A$0.30 (2.62%), that's above last trading month's daily average range of A$0.22. Weekly volatility is also higher, being slightly above the markets average with the monthly volatility being slightly below average.

Support/Resistance

Prices are trading close to a key support level at 11.27. Unable to break through the key technical resistance level at 11.61, the market closed below it after spiking as high as 11.66 during the day. The failure to close above the resistance could increase that levels importance as resistance going forward. After spiking up to 11.66 during the day, the stock found resistance at the 20-day moving average at 11.51.

Trend

BRG.AX shows weakness in the short-term (in accordance with its long-term downtrend) with only the medium-term trend being bullish. Breville Group broke below the 20-day moving average at 11.51 today for the first time since June 6th.

Order Flow

Selling might accelerate should prices move below the nearby swing low at 11.27 where further sell stops could get activated.

Conclusion

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

Market Conditions for Breville Group Limited
ConditionForecastDirectionWinAvgWorstBestEvents
Down Close Near Low of Period TQ Pro Members Only
Close to R1 Resistance TQ Pro Members Only
Bearish Break through SMA 100 TQ Pro Members Only
Close to S1 Support TQ Pro Members Only
Very Strong Down Move TQ Pro Members Only
More market conditions identified for TQ Pro members...
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