CTRP closes lower for the 4th day in a row
Moving lower for the 4th day in a row, CTRP ended Monday at 42.64 tanking $1.27 (-2.89%). Today's closing price of 42.64 marks the lowest close since January 6, 2017. The bears were in full control today, moving the market lower throughout the whole session. Closing below Friday's low at 43.53, the market confirms its breakout through the previous session's low having traded $1.17 below it intraday. Ending with a weak close near the low of the day sets a bearish note for the next session.
Monday's trading range was $1.61 (3.67%), that's slightly above last trading month's daily average range of $1.43. Weekly volatility is also higher, being way above the markets average with the monthly volatility being above average.
Breaking below the key support level at 43.02 today, it is now likely to act as resistance going forward.
The trend is clearly bearish, showing an intact downtrend in the short, medium and long-term.
2,017's low at 40.40 is within reach and we might see further downside momentum should the stock break out past.
Both sentiments, the classical technical analysis and our quantitative statistics are in perfect alignment today showing a bearish sentiment for the next trading day.
Report Market Conditions
|Price broke through Technical Support S1||TQ Pro Members Only|
|Closed below last periods low||TQ Pro Members Only|
|4 Consecutive Lower Closes||TQ Pro Members Only|
|Decisive Down Move||TQ Pro Members Only|
|Down Close Near Low of Period||TQ Pro Members Only|
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