CQR.AX breaks below 50-day moving average


Charter Hall Retail Units FP (CQR.AX) Technical Analysis Report for Jul 13, 2018 [1 min read]
Highlights
CQR.AX dominated by bears dragging the market lower throughout the day
CQR.AX breaks below 50-day moving average
CQR.AX fails to close above 20-day moving average
CQR.AX ends the day on a bearish note closing near the low of the day
CQR.AX finds buyers again around 4.20
TQ Sentiment
Report Sentiment: 55% Bearish
Technical Forecast:
Overview

CQR.AX finished the week -0.24% lower at 4.21 after losing A$0.04 (-0.94%) today. The bears were in full control today, moving the market lower throughout the whole session. Closing within the previous day's range, prices failed to decisively move past the prior day's trading range. Ending with a weak close near the low of the day sets a bearish note for the next session.

Daily chart for CQR.AX
Volatility

Friday's trading range was A$0.06 (1.41%), that's slightly above last trading month's daily average range of A$0.05. Things look different on a weekly scale, where volatility is below the markets average with the monthly volatility being slightly above average.

Price Action

Despite a strong opening the share closed below the previous day's open and close, forming a bearish Engulfing Candle.

Support/Resistance

Prices are trading close to a key support level at 4.18. After having been unable to move lower than 4.20 in the prior session, Charter Hall found buyers again around the same price level today at 4.20. After spiking up to 4.26 during the day, the market found resistance at the 20-day moving average at 4.26.

Trend

The trend is clearly bullish, showing an intact uptrend in the short, medium and long-term. The stock broke below the 50-day moving average at 4.21 today for the first time since July 11th.

Order Flow

Selling could speed up should prices move below the nearby swing low at 4.18 where further sell stops might get triggered. Further selling could move prices lower should the market test June's close-by low at 4.14.

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 Charter Hall Retail Units FP
ConditionForecastDirectionWinAvgWorstBestEvents
White Candle TQ Pro Members Only
Bounced off Technical Resistance R1 TQ Pro Members Only
Bullish Engulfing Candle TQ Pro Members Only
Close to R1 Resistance TQ Pro Members Only
More market conditions identified for TQ Pro members...
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