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 | by Techniquant Editorial Team
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 Candlestick Chart (DHG.AX as at Jun 14, 2018):
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.
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.
The trend is clearly bearish, showing an intact downtrend in the short, medium and long-term.
Trading close to April's low at 3.02 we could see further downside momentum if potential sell stops at the level get triggered.