CTX.AX closes lower for the 2nd day in a row

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


CTX.AX closes lower for the 2nd day in a row
CTX.AX finds buyers again around 29.35
CTX.AX closes within previous day's range after lackluster session
CTX.AX ends the day indecisive


Moving lower for the 2nd day in a row, CTX.AX ended the week -0.74% lower at 29.53 after losing A$0.03 (-0.1%) today. Closing within the prior day's range, prices failed to decisively move past the previous day's trading range in a lackluster session. Ending the day with an indecisive close, neither buyers nor sellers were able to gain control during the session.

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

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

Friday's trading range was A$0.35 (1.19%), that's below last trading month's daily average range of A$0.64. Things look different on a weekly scale, where volatility is way below the markets average with the monthly volatility being way above average.

Prices are trading close to the key resistance level at 29.83. After having been unable to move lower than 29.35 in the prior session, the share found buyers again around the same price level today at 29.35.

The trend is clearly bearish, showing an intact downtrend in the short, medium and long-term.

Buying might speed up should prices move above the close-by swing high at 29.90 where further buy stops could get activated. Selling might accelerate should prices move below the nearby swing low at 28.91 where further sell stops could get triggered. With prices trading close to this year's low at 28.44, downside momentum might speed up should the market break out to new lows for the year. As prices are trading close to September's high at 30.44, upside momentum could accelerate should Caltex Australia mark new highs for the month.

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

Loading Market Conditions for CTX.AX (Caltex Australia Ltd)...
Trending Assets

Upgrade your trading!

Get the stats behind the charts

Find out what happened when Caltex Australia Ltd traded like this in the past. See the odds for each technical pattern with expected gain and loss.

Find out more
Top Movers
You have free reports remaining. Subscribe for unlimited access...SUBSCRIBELOGINGO!