CIM.AX closes lower for the 2nd day in a row
Cimic Group Limited (CIM.AX) Technical Analysis Report for Jun 14, 2018
Moving lower for the 2nd day in a row, CIM.AX ended Thursday at 40.46 losing A$0.04 (-0.1%). Today's closing price of 40.46 marks the lowest close since June 6th. Closing within the previous day's range, prices failed to decisively move past the prior day's trading range.
Daily Candlestick Chart (CIM.AX as at Jun 14, 2018):
Thursday's trading range was A$0.75 (1.87%), that's slightly below last trading month's daily average range of A$0.90. Things look different on a weekly scale, where volatility is slightly above the markets average with the monthly volatility being slightly below average.
Prices are trading close to the key resistance level at 41.26. After having been unable to move lower than 40.28 in the previous session, the market found buyers again around the same price level today at 40.11.
The trend is clearly bearish, showing an intact downtrend in the short, medium and long-term.
Selling might accelerate should prices move below the close-by swing low at 39.60 where further sell stops could get activated.