EHE.AX dominated by bears dragging the market lower throughout the day


Estia Health Limited (EHE.AX) Technical Analysis Report for Jul 13, 2018 | by Techniquant Editorial Team

Highlights

EHE.AX dominated by bears dragging the market lower throughout the day
EHE.AX ends the day on a bearish note closing near the low of the day
EHE.AX runs into sellers again around 3.33
EHE.AX closes within previous day's range after lackluster session

Overview

EHE.AX ended the week -1.2% lower at 3.28 after losing A$0.02 (-0.61%) today on low volume. The bears were in full control today, moving the market lower throughout the whole session. Closing within the previous day's range, prices failed to decisively move beyond the prior day's trading range in a lackluster session. Ending with a weak close near the low of the day sets a bearish note for the next session.

Daily Candlestick Chart (EHE.AX as at Jul 13, 2018):

Daily technical analysis candlestick chart for Estia Health Limited (EHE.AX) as at Jul 13, 2018

Friday's trading range was A$0.06 (1.8%), that's below last trading month's daily average range of A$0.07. Things look different on a weekly scale, where volatility is slightly below the markets average with the monthly volatility being slightly below average.

Prices are trading close to a key support level at 3.26. After having been unable to move above 3.32 in the previous session, the market ran into sellers again around the same price level today, failing to move higher than 3.33.

While still in a long-term uptrend, the short and medium-term trends both turned bearish already.

Further selling might move prices lower should the market test June's close-by low at 3.16.


Market Conditions for EHE.AX as at Jul 13, 2018

Loading Market Conditions for EHE.AX (Estia Health Limited)...
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EHE.AX closes within prior day's range

Dec 14, 2018
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