DHG.AX crashes, loses $0.43 (-13.44%) within a single day

Domain Holdings Aus (DHG.AX) Technical Analysis Report for Oct 12, 2018 | by Techniquant Editorial Team


DHG.AX crashes, loses $0.43 (-13.44%) within a single day
DHG.AX closes lower for the 7th day in a row
DHG.AX falls to lowest close since January 22nd


Moving lower for the 7th day in a row, DHG.AX finished the week -19.71% lower at 2.77 after tanking $0.43 (-13.44%) today on high volume, significantly underperforming the market (ASX 200, 0.2%). This is the biggest single-day loss in over eight months. The last time this happened on yesterday, DHG.AX lost -13.44% on the following trading day. Today's close at 2.77 marks the lowest recorded closing price since January 22nd.

Daily Candlestick Chart (DHG.AX as at Oct 12, 2018):

Daily technical analysis candlestick chart for Domain Holdings Aus (DHG.AX) as at Oct 12, 2018

Friday's trading range was $0.16 (5.9%), that's far above last trading month's daily average range of $0.08. Weekly volatility is also higher, being way above the markets average with the monthly volatility being exactly the same as average.

With another close below the lower Bollinger Band, prices are confirming their strong downward momentum in the short-term. A rally back into the Bollinger Band on the next trading day while might signal a potential change in momentum that could lead to a correction back up towards the center of the Bollinger Bands at 3.42.

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

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