DXS.AX fails to close above 20-day moving average


Dexus (DXS.AX) Technical Analysis Report for May 17, 2018 [< 1 min read]
Highlights
DXS.AX closes below its opening price unable to hold early session gains
DXS.AX fails to close above 20-day moving average
DXS.AX closes within previous day's range
DXS.AX ends the day indecisive
TQ Sentiment
Report Sentiment: 60% Bearish
Technical Forecast:
Overview

DXS.AX ended Thursday at 9.47 flat. Trading A$0.06 higher after the open, the stock was unable to hold its gains as the bears took control ending the day below its opening price. Closing within the previous day's range, prices failed to decisively move beyond the prior day's trading range. Ending the day with an indecisive close, neither buyers nor sellers were able to gain control during the session.

Daily chart for DXS.AX
Volatility

Thursday's trading range was A$0.11 (1.16%), that's slightly below last trading month's daily average range of A$0.12. Things look different on a weekly scale, where volatility is slightly below the markets average with the monthly volatility being slightly above average.

Support/Resistance

Prices are trading close to the key resistance level at 9.48. After spiking up to 9.55 during the day, Dexus found resistance at the 20-day moving average at 9.50.

Trend

The share shows weakness in the short-term (in accordance with its long-term downtrend) with only the medium-term trend being bullish.

Conclusion

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

Market Conditions for Dexus
Condition Forecast Direction Win Avg Worst Best Events
Decisive Up Move TQ Pro Members Only
White Candle TQ Pro Members Only
Close to S1 Support TQ Pro Members Only
Price broke through Technical Resistance R1 TQ Pro Members Only
Low close to previous low TQ Pro Members Only
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