BXB.AX breaks key support level
Moving lower for the 4th day in a row, BXB.AX ended the week -6.19% lower at 9.24 after tanking A$0.15 (-1.6%) today on high volume. Today's closing price of 9.24 marks the lowest close since October 16, 2017. Closing below Thursday's low at 9.36, the stock confirms its breakout through the previous session's low having traded A$0.23 below it intraday.
Friday's trading range was A$0.30 (3.18%), that's far above last trading month's daily average range of A$0.15. Weekly volatility is also higher, being way above the markets average with the monthly volatility being above average.
Breaking below the key support level at 9.26 today, it is now likely to act as resistance going forward.
The trend is clearly bearish, showing an intact downtrend in the short, medium and long-term.
While classical technical analysis indicates a neutral sentiment for the next trading day, our quantitative statistics show a different picture being very bearish.
Market Conditions for Brambles Ltd
|Close to R1 Resistance||TQ Pro Members Only|
|Low close to previous low||TQ Pro Members Only|
|Bullish Break through SMA 20||TQ Pro Members Only|
|2 Consecutive Higher Closes||TQ Pro Members Only|
|Bearish Hikkake Pattern||TQ Pro Members Only|
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