CBA.AX slips to lowest close since June 26, 2013


Commonwealth Bank (CBA.AX) Technical Analysis Report for Jun 14, 2018 [< 1 min read]
Highlights
CBA.AX closes lower for the 3rd day in a row
CBA.AX breaks below previous session low
CBA.AX falls to lowest close since June 26, 2013
TQ Sentiment
Report Sentiment: 33% Bearish
Technical Forecast:
Overview

Moving lower for the 3rd day in a row, CBA.AX finished Thursday at 67.45 losing A$0.73 (-1.07%). Today's closing price of 67.45 marks the lowest close since June 26, 2013. Closing below Wednesday's low at 68.01, the market confirms its breakout through the previous session's low having traded A$0.79 below it intraday.

Daily chart for CBA.AX
Volatility

Thursday's trading range was A$0.70 (1.03%), that's slightly below last trading month's daily average range of A$0.78. Things look different on a weekly scale, where volatility is above the markets average with the monthly volatility being slightly below average.

Trend

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

Conclusion

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

Market Conditions for Commonwealth Bank
Condition Forecast Direction Win Avg Worst Best Events
Close to R1 Resistance TQ Pro Members Only
Decisive Up Move TQ Pro Members Only
White Candle TQ Pro Members Only
Closed below last periods low TQ Pro Members Only
Close to S1 Support TQ Pro Members Only
More market conditions identified for TQ Pro members...
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