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


Estia Health Limited (EHE.AX) Technical Analysis Report for Jul 13, 2018 [< 1 min read]
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
TQ Sentiment
Report Sentiment: 60% Bearish
Technical Forecast:
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 chart for EHE.AX
Volatility

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.

Support/Resistance

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.

Trend

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

Order Flow

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

Conclusion

Both sentiments, the classical technical analysis and our quantitative statistics are in perfect alignment today showing a slightly bearish sentiment for the next trading day.

Market Conditions for Estia Health Limited
ConditionForecastDirectionWinAvgWorstBestEvents
Close near low of period TQ Pro Members Only
Bearish Outside Bar TQ Pro Members Only
Black Candle TQ Pro Members Only
High close to previous High TQ Pro Members Only
Closed below last periods low TQ Pro Members Only
More market conditions identified for TQ Pro members...
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