DHG.AX declines to lowest close since July 31st


Domain Holdings Aus (DHG.AX) Technical Analysis Report for Aug 10, 2018 [1 min read]
Highlights
DHG.AX breaks below 100-day moving average
DHG.AX finds buyers at key support level
DHG.AX unable to break through key resistance level
DHG.AX breaks below previous session low
DHG.AX falls to lowest close since July 31st
TQ Sentiment
Report Sentiment: 66% Bearish
Technical Forecast:
Overview

DHG.AX finished the week -4.78% lower at 3.19 after losing A$0.07 (-2.15%) today. Today's closing price of 3.19 marks the lowest close since July 31st. Closing below Thursday's low at 3.22, the stock confirms its breakout through the prior session's low having traded A$0.06 below it intraday.

Daily chart for DHG.AX
Volatility

Friday's trading range was A$0.14 (4.28%), that's far above last trading month's daily average range of A$0.08. Weekly volatility is also higher, being slightly above the markets average with the monthly volatility being exactly the same as average.

Price Action

In a volatile session, prices traded above the previous day's high as well as below the prior day's low, forming a bearish Outside Bar.

Support/Resistance

After trading as low as 3.16 during the day, Domain Holdings bounced off the key support level at 3.16. The failure to close below the support might increase that levels importance as support going forward. Unable to break through the key technical resistance level at 3.29, the share closed below it after spiking as high as 3.30 during the day. The failure to close above the resistance could increase that levels importance as resistance going forward.

Trend

Though still in a long-term uptrend, the short and medium-term trends both turned bearish already. The market broke below the 100-day moving average at 3.20 today for the first time since July 31st.

Conclusion

Even though both sentiments are bearish for the next trading day, our quantitative statistics are only slightly bearish while the classical technical analysis metrics show a bearish sentiment.

Market Conditions for Domain Holdings Aus
Condition Forecast Direction Win Avg Worst Best Events
Decisive Up Move TQ Pro Members Only
4 Consecutive Higher Closes TQ Pro Members Only
White Candle TQ Pro Members Only
Closed above last periods high TQ Pro Members Only
Close above the upper Bollinger Band TQ Pro Members Only
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