DHG.AX dominated by bears dragging the market lower throughout the day
Domain Holdings Aus (DHG.AX) Technical Analysis Report for Jul 13, 2018
DHG.AX ended the week -2.52% lower at 3.10 after gaining A$0.01 (0.32%) today. The bears were in full control today, moving the market lower throughout the whole session. Closing within the previous day's range, prices failed to decisively move past the prior day's trading range.
Friday's trading range was A$0.07 (2.22%), that's slightly above last trading month's daily average range of A$0.06. Weekly volatility is also higher, being slightly above the markets average with the monthly volatility being exactly the same as average.
Prices are trading close to a key support level at 3.08. After having been unable to move lower than 3.09 in the previous session, the stock found buyers again around the same price level today at 3.09.
While still in a long-term uptrend, the short and medium-term trends both turned bearish already.
Trading close to May's low at 3.05 we could see further downside momentum if potential sell stops at the level get activated.
While classical technical analysis indicates a neutral sentiment for the next trading day, our quantitative statistics show a different picture being slightly bearish.
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