CMW.AX finds support at 20-day moving average

Cromwell Prop Ordinary/Units FP Stapled Securities (CMW.AX) Technical Analysis Report for Jul 13, 2018

Highlights

Traders officially love to buy CMW.AX around 1.12 level
CMW.AX finds support at 20-day moving average
CMW.AX still stuck within tight trading range
CMW.AX closes within previous day's range

TQ Sentiment

Report Sentiment:
50% Bullish
Technical Forecast:
TQ Pro Only
See the overall Technical Analysis forecast for today.

Overview

CMW.AX finished the week -0.88% lower at 1.13 after losing A$0.01 (-0.88%) today. Closing within the prior day's range, prices failed to decisively move beyond the previous day's trading range.

Daily chart for CMW.AX

Volatility

Friday's trading range was A$0.02 (1.75%), that's slightly above last trading month's daily average range of A$0.02. Things look different on a weekly scale, where volatility is below the markets average with the monthly volatility being slightly below average. Prices continued to consolidate within a tight trading range between 1.12 and 1.14 which it has been in now for the last trading week.

Support/Resistance

The share was bought again around 1.12 after having seen lows at 1.12, 1.12 and 1.12 in the last three trading sessions. Obviously there is something going on at that level. After trading as low as 1.12 during the day, the market found support at the 20-day moving average at 1.12.

Trend

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

Conclusion

Both sentiments, the classical technical analysis and our quantitative statistics are in perfect alignment today showing a neutral sentiment for the next trading day.

Market Conditions for Cromwell Prop Ordinary/Units FP Stapled Securities

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