DXS.AX fails to close above 20-day moving average
Dexus (DXS.AX) Technical Analysis Report for May 17, 2018 | by Techniquant Editorial Team
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 Candlestick Chart (DXS.AX as at May 17, 2018):
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.
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.
The share shows weakness in the short-term (in accordance with its long-term downtrend) with only the medium-term trend being bullish.