BRG.AX finds buyers again around 11.33


Breville Group Limited (BRG.AX) Technical Analysis Report for Jul 13, 2018 [1 min read]
Highlights
BRG.AX unable to break through key resistance level
BRG.AX fails to close above 50-day moving average
BRG.AX finds buyers again around 11.33
BRG.AX closes within previous day's range after lackluster session
BRG.AX ends the day indecisive
TQ Sentiment
Report Sentiment: 0% Neutral
Technical Forecast:
Overview

BRG.AX finished the week -5.02% lower at 11.35 after edging higher A$0.02 (0.18%) today. Closing within the previous day's range, prices failed to decisively move past the prior day's trading range in a lackluster session. Ending the day with an indecisive close, neither buyers nor sellers were able to gain control during the session.

Daily chart for BRG.AX
Volatility

Friday's trading range was A$0.21 (1.85%), that's far below last trading month's daily average range of A$0.32. Things look different on a weekly scale, where volatility is slightly above the markets average with the monthly volatility being slightly above average.

Price Action

During the whole day, prices traded within the previous day's range, unable to trade above the prior day's high or below the previous day's low forming an Inside Bar.

Support/Resistance

Prices are trading close to a key support level at 11.31. Unable to break through the key technical resistance level at 11.47, Breville Group closed below it after spiking as high as 11.54 during the day. The failure to close above the resistance might increase that levels importance as resistance going forward. After having been unable to move lower than 11.31 in the prior session, the market found buyers again around the same price level today at 11.33. After spiking up to 11.54 during the day, the share found resistance at the 50-day moving average at 11.52.

Trend

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

Order Flow

Selling could accelerate should prices move below the nearby swing low at 11.31 where further sell stops might get activated. Trading close to May's low at 10.95 we could see further downside momentum if potential sell stops at the level get triggered.

Conclusion

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

Market Conditions for Breville Group Limited
ConditionForecastDirectionWinAvgWorstBestEvents
Close to Swing Low TQ Pro Members Only
Low close to previous two Lows TQ Pro Members Only
Price broke through Technical Resistance R1 TQ Pro Members Only
Close to S1 Support TQ Pro Members Only
Close to Swing High TQ Pro Members Only
More market conditions identified for TQ Pro members...
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