CQR.AX fails to close above 50-day moving average

Charter Hall Retail Units FP (CQR.AX) Technical Analysis Report for Aug 10, 2018 | by Techniquant Editorial Team


CQR.AX closes below its opening price unable to hold early session gains
CQR.AX unable to break through key resistance level
CQR.AX fails to close above 50-day moving average
CQR.AX ends the day indecisive


CQR.AX ended the week 1.71% higher at 4.17 after losing A$0.02 (-0.48%) today. Trading A$0.02 higher after the open, the share was unable to hold its gains as the bears took control ending the day below its opening price. Ending the day with an indecisive close, neither buyers nor sellers were able to gain control during the session.

Daily Candlestick Chart (CQR.AX as at Aug 10, 2018):

Daily technical analysis candlestick chart for Charter Hall Retail Units FP (CQR.AX) as at Aug 10, 2018

Friday's trading range was A$0.05 (1.2%), 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 slightly below the markets average with the monthly volatility being below average.

Prices are trading close to a key support level at 4.14. Unable to break through the key technical resistance level at 4.18, the stock closed below it after spiking as high as 4.20 during the day. The failure to close above the resistance could increase that levels importance as resistance going forward. After spiking up to 4.20 during the day, the market found resistance at the 50-day moving average at 4.20.

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

Buying might speed up should prices move above the close-by swing high at 4.21 where further buy stops could get activated.

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