DHG.AX ends the day on a bearish note closing near the low of the day


Domain Holdings Aus (DHG.AX) Technical Analysis Report for Jun 14, 2018 [< 1 min read]
Highlights
DHG.AX fails to close above 50-day moving average
DHG.AX closes lower for the 2nd day in a row
DHG.AX ends the day on a bearish note closing near the low of the day
DHG.AX breaks below previous session low
TQ Sentiment
Report Sentiment: 66% Bearish
Technical Forecast:
Overview

Moving lower for the 2nd day in a row, DHG.AX finished Thursday at 3.17 losing A$0.03 (-0.94%). Closing below Wednesday's low at 3.18, the share confirms its breakout through the prior session's low having traded A$0.02 below it intraday. Ending with a weak close near the low of the day sets a bearish note for the next session.

Daily chart for DHG.AX
Volatility

Thursday's trading range was A$0.06 (1.88%), that's below last trading month's daily average range of A$0.08. Things look different on a weekly scale, where volatility is above the markets average with the monthly volatility being exactly the same as average.

Support/Resistance

Prices are trading close to a key support level at 3.14. Prices are trading close to the key resistance level at 3.24. After spiking up to 3.22 during the day, the market found resistance at the 50-day moving average at 3.20.

Trend

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

Order Flow

Trading close to April's low at 3.02 we could see further downside momentum if potential sell stops at the level get triggered.

Conclusion

While classical technical analysis indicates a bearish sentiment for the next trading day, our quantitative statistics show a different picture being neutral.

Market Conditions for Domain Holdings Aus
Condition Forecast Direction Win Avg Worst Best Events
Close to R1 Resistance TQ Pro Members Only
Doji TQ Pro Members Only
Bearish Hikkake Pattern TQ Pro Members Only
Bounced off Technical Resistance R1 TQ Pro Members Only
RSI(2) above 80 TQ Pro Members Only
More market conditions identified for TQ Pro members...
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Latest Report:

DHG.AX stuck within tight trading range

Aug 20, 2018
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