CTX.AX closes within prior day's range after lackluster session


Caltex Australia Ltd (CTX.AX) Technical Analysis Report for Jun 14, 2018 [< 1 min read]
Highlights
CTX.AX closes within previous day's range after lackluster session
TQ Sentiment
Technical Forecast:
Overview

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.

Daily chart for CTX.AX
Volatility

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.

Support/Resistance

Prices are trading close to a key support level at 29.99. Prices are trading close to the key resistance level at 30.77.

Trend

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.

Order Flow

Buying might speed up should prices move above the close-by swing high at 30.83 where further buy stops could get triggered.

Conclusion

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
ConditionForecastDirectionWinAvgWorstBestEvents
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
More market conditions identified for TQ Pro members...
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