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


Charter Hall Retail Units FP (CQR.AX) Technical Analysis Report for Aug 10, 2018 [1 min read]
Highlights
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
TQ Sentiment
Report Sentiment: 50% Bearish
Technical Forecast:
Overview

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 chart for CQR.AX
Volatility

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.

Support/Resistance

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.

Trend

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

Order Flow

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

Conclusion

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
Condition Forecast Direction Win Avg Worst Best Events
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
More market conditions identified for TQ Pro members...
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