CTX.AX closes within prior day's range after lackluster session
CTX.AX ended Thursday at 30.32 losing A$0.25 (-0.82%). Closing within the prior day's range, prices failed to decisively move beyond the previous day's trading range in a lackluster session.
Thursday's trading range was A$0.48 (1.57%), that's below last trading month's daily average range of A$0.58. Things look different on a weekly scale, where volatility is above the markets average with the monthly volatility being slightly below average.
Prices are trading close to a key support level at 29.99. Prices are trading close to the key resistance level at 30.77.
Although the stock is experiencing a short-term up trend, this could just be a correction, as both the medium and long term trends are still in negative territory.
Buying might speed up should prices move above the close-by swing high at 30.83 where further buy stops could get triggered.
While classical technical analysis indicates a neutral sentiment for the next trading day, our quantitative statistics show a different picture being bullish.
Market Conditions for Caltex Australia Ltd
|Close to R1 Resistance||TQ Pro Members Only|
|Low close to previous low||TQ Pro Members Only|
|Close to Swing High||TQ Pro Members Only|
|Bounced off Technical Resistance R1||TQ Pro Members Only|
|Bearish Spinning Top||TQ Pro Members Only|
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