CLW.AX closes within prior day's range

CHTR H LWR Stapled Securities (CLW.AX) Technical Analysis Report for Sep 14, 2018

Highlights

CLW.AX runs into sellers again around 4.42
CLW.AX rises to highest close since July 10th
CLW.AX closes within previous day's range

TQ Sentiment

Report Sentiment: 0% Neutral
Technical Forecast:

Overview

CLW.AX ended the week 2.09% higher at 4.39 after gaining A$0.04 (0.92%) today. Today's closing price of 4.39 marks the highest close since July 10th. Closing within the prior day's range, prices failed to decisively move past the previous day's trading range.

Daily chart for CLW.AX

Volatility

Friday's trading range was A$0.09 (2.08%), that's above last trading month's daily average range of A$0.07. Weekly volatility is also higher, being above the markets average with the monthly volatility being above average.

Price Action

In a volatile session, prices traded above the prior day's high as well as below the previous day's low, forming a bullish Outside Bar.

Support/Resistance

After having been unable to move above 4.41 in the prior session, the stock ran into sellers again around the same price level today, failing to move higher than 4.42.

Trend

The market shows strength in the short-term supported by its long-term uptrend with only the medium-term trend being bearish.

Order Flow

With prices trading close to this year's high at 4.52, upside momentum might speed up should CHTR H be able to break out to new highs for the year. Trading close to July's high at 4.51 we could see further upside momentum if potential buy stops at the level get triggered.

Conclusion

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

Market Conditions for CHTR H LWR Stapled Securities

Condition Forecast Direction Win Rate Exit Day Events
Close near high of period TQ Pro Members Only
High close to previous High TQ Pro Members Only
Close to Swing High TQ Pro Members Only
Bullish Intraday Reversal TQ Pro Members Only
Up Close near high of period TQ Pro Members Only
More market conditions identified for TQ Pro members...
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