CLW.AX closes lower for the 4th day in a row

CHTR H LWR Stapled Securities (CLW.AX) Technical Analysis Report for Jul 13, 2018

Highlights

CLW.AX closes lower for the 4th day in a row
CLW.AX breaks below previous session low
CLW.AX falls to lowest close since May 31st
CLW.AX ends the day indecisive

TQ Sentiment

Report Sentiment:
25% Bearish
Technical Forecast:
TQ Pro Only
See the overall Technical Analysis forecast for today.

Overview

Moving lower for the 4th day in a row, CLW.AX finished the week -6.65% lower at 4.21 after losing A$0.03 (-0.71%) today. Today's closing price of 4.21 marks the lowest close since May 31st. Closing below Thursday's low at 4.23, the share confirms its breakout through the prior session's low having traded A$0.03 below it intraday. Ending the day with an indecisive close, neither buyers nor sellers were able to gain control during the session.

Daily chart for CLW.AX

Volatility

Friday's trading range was A$0.04 (0.95%), that's far below last trading month's daily average range of A$0.07. Things look different on a weekly scale, where volatility is way above the markets average with the monthly volatility being slightly below average.

Trend

While the market is currently in a short-term down trend, this could just be a correction, as the medium and long term trends are both positive.

Order Flow

Further selling might move prices lower should the market test June's close-by low at 4.18.

Conclusion

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

Market Conditions for CHTR H LWR Stapled Securities

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