CBA.AX slips to lowest close since June 26, 2013
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.
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.
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 bearish.
Market Conditions for Commonwealth Bank
|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|
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