MAY SALE: Save over 60% on our Pro Plans!

CSL.AX breaks below prior session low


Technical Analysis Report for CSL.AX - May 17, 2018 [< 1 min read]
Highlights
CSL.AX dominated by bears dragging the market lower throughout the day
CSL.AX ends the day on a bearish note closing near the low of the day
CSL.AX breaks below previous session low
CSL.AX falls to lowest close since May 9th
TQ Sentiment
Technical Forecast:
Overview

CSL.AX finished Thursday at 175.69 losing A$2.65 (-1.49%). Today's closing price of 175.69 marks the lowest close since May 9th. The bears were in full control today, moving the market lower throughout the whole session. Closing below Wednesday's low at 178.00, the stock confirms its breakout through the prior session's low having traded A$3.00 below it intraday. Ending with a weak close near the low of the day sets a bearish note for the next session.

Daily chart for CSL.AX
Volatility

Thursday's trading range was A$6.07 (3.37%), that's far above last trading month's daily average range of A$2.76. Things look different on a weekly scale, where volatility is slightly below the markets average with the monthly volatility being way above average.

Price Action

In a volatile session, prices traded above the previous day's high as well as below the prior day's low, forming a bearish Outside Bar. Regardless of a strong opening the market closed below the previous day's open and close, forming a bearish Engulfing Candle.

Trend

The trend is clearly bullish, showing an intact uptrend in the short, medium and long-term.

Conclusion

While classical technical analysis indicates a very bearish sentiment for the next trading day, our quantitative statistics show a different picture being bullish.

Report Market Conditions
ConditionForecastDirectionWinAvgWorstBest
Closed below last periods low TQ Pro Members Only
Decisive Down Move TQ Pro Members Only
Bearish Engulfing Candle TQ Pro Members Only
Bearish Outside Bar TQ Pro Members Only
Down Close Near Low of Period TQ Pro Members Only
More market conditions identified for TQ Pro members...
Learn more about TQ Pro
Trending Assets

Upgrade your trading!

Get the stats behind the charts

Find out what happened when CSL Ltd traded like this in the past. See the odds for each technical pattern with expected gain and loss.

Signup

Stocks Top Movers

TBOND 141.3120.874 0.62%
NKY 22,930.3691.99 0.40%
HSI 31,047.91105.76 0.34%
DXY 93.6000.200 0.21%
GOLD 1,291.71.7 0.13%
USDJPY 110.76-0.01 -0.01%
BTCUSD 8,238.30-4.06 -0.05%
FTSE 7,778.79-9.21 -0.12%
EURUSD 1.1769-0.0025 -0.21%
SPX 2,712.97-7.16 -0.26%
Start your day with the facts moving the markets
By clicking "Subscribe", you agree to our terms and privacy policy.

Related Stocks

ABBV 10 day candlestick chart for ABBV105.98 0.66
0.63%
ACN 10 day candlestick chart for ACN155.31 0.38
0.25%
ADBE 10 day candlestick chart for ADBE238.09 1.24
0.52%
AAP 10 day candlestick chart for AAP118.32 -1.47
-1.23%
AES 10 day candlestick chart for AES11.93 -0.12
-1.00%
AET 10 day candlestick chart for AET176.81 -0.22
-0.12%
AFL 10 day candlestick chart for AFL45.39 -0.14
-0.31%
AMG 10 day candlestick chart for AMG167.71 -1.54
-0.91%
A 10 day candlestick chart for A64.32 0.73
1.15%
ABT 10 day candlestick chart for ABT61.71 0.65
1.06%