CHC.AX closes above its opening price after recovering from early selling pressure


Charter Hall Group Stapled Securities US Prohibite (CHC.AX) Technical Analysis Report for Jun 14, 2018

Highlights

CHC.AX closes above its opening price after recovering from early selling pressure
CHC.AX closes lower for the 2nd day in a row
CHC.AX closes within previous day's range after lackluster session
CHC.AX ends the day indecisive

Overview

Moving lower for the 2nd day in a row, CHC.AX finished Thursday at 6.38 losing A$0.03 (-0.47%). Trading up to A$0.03 lower after the open, the stock managed to reverse during the session as bulls took control ending the day above its opening price. Closing within the previous day's range, prices failed to decisively move beyond the prior day's trading range in a lackluster session. Ending the day with an indecisive close, neither buyers nor sellers were able to gain control during the session.

Daily Candlestick Chart (CHC.AX as at Jun 14, 2018):

Daily technical analysis candlestick chart for Charter Hall Group Stapled Securities US Prohibite (CHC.AX) as at Jun 14, 2018

Thursday's trading range was A$0.06 (0.94%), that's below last trading month's daily average range of A$0.10. Things look different on a weekly scale, where volatility is below the markets average with the monthly volatility being below average.

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

Buying might speed up should prices move above the nearby swing high at 6.46 where further buy stops could get activated. Selling might accelerate should prices move below the close-by swing low at 6.29 where further sell stops could get triggered. With prices trading close to this year's high at 6.48, upside momentum might speed up should the market be able to break out to new highs for the year.


Market Conditions for CHC.AX as at Jun 14, 2018

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