CGF.AX closes lower for the 2nd day in a row
Challenger Limited (CGF.AX) Technical Analysis Report for Jun 14, 2018 | by Techniquant Editorial Team
Moving lower for the 2nd day in a row, CGF.AX ended Thursday at 12.37 losing A$0.32 (-2.52%) on high volume. Today's closing price of 12.37 marks the lowest close since May 17th. Closing below Wednesday's low at 12.45, the stock confirms its breakout through the prior session's low having traded A$0.28 below it intraday.
Daily Candlestick Chart (CGF.AX as at Jun 14, 2018):
Thursday's trading range was A$0.47 (3.73%), that's above last trading month's daily average range of A$0.29. Weekly volatility is also higher, being slightly above the markets average with the monthly volatility being way below average.
Breaking below the key support level at 12.50 today, it is now likely to act as resistance going forward. After trading as low as 12.17 during the day, Challenger Limited found support at the 100-day moving average at 12.33.
The share shows weakness in the short-term (in accordance with its long-term downtrend) with only the medium-term trend being bullish.