DXS.AX breaks key support level

Dexus (DXS.AX) Technical Analysis Report for Apr 17, 2018 | by Techniquant Editorial Team


DXS.AX breaks key support level
DXS.AX breaks below previous session low
DXS.AX falls to lowest close since February 12th


DXS.AX finished Tuesday at 9.16 losing A$0.06 (-0.65%). Today's closing price of 9.16 marks the lowest close since February 12th. Closing below Saturday's low at 9.19, Dexus confirms its breakout through the previous session's low having traded A$0.07 below it intraday.

Daily Candlestick Chart (DXS.AX as at Apr 17, 2018):

Daily technical analysis candlestick chart for Dexus (DXS.AX) as at Apr 17, 2018

Tuesday's trading range was A$0.13 (1.41%), that's slightly above last trading month's daily average range of A$0.12. Weekly volatility is also higher, being slightly above the markets average with the monthly volatility being slightly above average.

Notwithstanding a strong opening the share closed below the prior day's open and close, forming a bearish Engulfing Candle.

Prices are trading close to a key support level at 9.09. Breaking below the key support level at 9.22 today, it is now likely to act as resistance going forward.

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

With prices trading close to this year's low at 8.98, downside momentum could accelerate should the stock break out to new lows for the year. Further selling might move prices lower should the market test March's nearby low at 9.09.

Latest Report:

DXS.AX ends the day indecisive

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