CTD.AX closes lower for the 2nd day in a row

Corp Travel Limited (CTD.AX) Technical Analysis Report for Jun 14, 2018 | by Techniquant Editorial Team


CTD.AX closes below its opening price unable to hold early session gains
CTD.AX closes lower for the 2nd day in a row
CTD.AX breaks below previous session low
CTD.AX falls to lowest close since June 6th
CTD.AX ends the day indecisive


Moving lower for the 2nd day in a row, CTD.AX ended Thursday at 25.43 losing A$0.16 (-0.63%). Today's closing price of 25.43 marks the lowest close since June 6th. Trading A$0.15 higher after the open, the market was unable to hold its gains as the bears took control ending the day below its opening price. Closing below Wednesday's low at 25.49, Corp Travel confirms its breakout through the prior session's low having traded A$0.11 below it intraday. Ending the day with an indecisive close, neither buyers nor sellers were able to gain control during the session.

Daily Candlestick Chart (CTD.AX as at Jun 14, 2018):

Daily technical analysis candlestick chart for Corp Travel Limited (CTD.AX) as at Jun 14, 2018

Thursday's trading range was A$0.25 (0.98%), that's far below last trading month's daily average range of A$0.64. Things look different on a weekly scale, where volatility is slightly below the markets average with the monthly volatility being slightly below average.

Prices are trading close to the key resistance level at 25.72.

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

With prices trading close to this year's high at 26.34, upside momentum could speed up should the share be able to break out to new highs for the year. Further buying might move prices higher should the market test May's close-by high at 26.30.

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