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
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.
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.
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.
The trend is clearly bullish, showing an intact uptrend in the short, medium and long-term.
Both sentiments, the classical technical analysis and our quantitative statistics are in perfect alignment today showing a neutral sentiment for the next trading day.