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
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.
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.
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.
Further selling might move prices lower should the market test June's close-by low at 4.18.
While classical technical analysis indicates a neutral sentiment for the next trading day, our quantitative statistics show a different picture being bullish.