CQR.AX fails to close above 50-day moving average
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.
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.
While classical technical analysis indicates a neutral sentiment for the next trading day, our quantitative statistics show a different picture being slightly bullish.
Market Conditions for Charter Hall Retail Units FP
|Close to S1 Support||TQ Pro Members Only|
|Hanging Man||TQ Pro Members Only|
|Close to Swing High||TQ Pro Members Only|
|Bounced off Technical Support S1||TQ Pro Members Only|
|Bearish Spinning Top||TQ Pro Members Only|
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