BXB.AX breaks key support level

Technical Analysis Report for BXB.AX - May 18, 2018 [< 1 min read]
BXB.AX breaks key support level
BXB.AX closes lower for the 4th day in a row
BXB.AX breaks below previous session low
BXB.AX falls to lowest close since October 16, 2017
TQ Sentiment
Technical Forecast:

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.

Daily chart for BXB.AX

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.

Report Market Conditions
Price broke through Technical Support S1 TQ Pro Members Only
Closed below last periods low TQ Pro Members Only
4 Consecutive Lower Closes TQ Pro Members Only
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Latest Report:

BXB.AX breaks key support level

May 24, 2018
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