CTX.AX drops to lowest close since June 15th
Caltex Australia Ltd (CTX.AX) Technical Analysis Report for Jul 13, 2018 | by Techniquant Editorial Team
Moving lower for the 2nd day in a row, CTX.AX ended the week -4.27% lower at 30.70 after losing A$0.44 (-1.41%) today. Today's closing price of 30.70 marks the lowest close since June 15th. Closing below Thursday's low at 30.95, the stock confirms its breakout through the previous session's low having traded A$0.34 below it intraday. Ending with a weak close near the low of the day sets a bearish note for the next session.
Daily Candlestick Chart (CTX.AX as at Jul 13, 2018):
Friday's trading range was A$0.55 (1.77%), that's slightly below last trading month's daily average range of A$0.57. Things look different on a weekly scale, where volatility is way below the markets average with the monthly volatility being way below average.
Breaking below the key support level at 30.92 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. The share broke below the 50-day moving average at 30.79 today for the first time since March 1st.