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


Caltex Australia Ltd (CTX.AX) Technical Analysis Report for Jun 14, 2018 | by Techniquant Editorial Team

Highlights

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

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

Daily technical analysis candlestick chart for Caltex Australia Ltd (CTX.AX) as at Jun 14, 2018

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.


Market Conditions for CTX.AX as at Jun 14, 2018

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