EVN.AX finds buyers at key support level

Evolution Mining Limited (EVN.AX) Technical Analysis Report for Aug 10, 2018 [< 1 min read]
EVN.AX breaks below 200-day moving average
EVN.AX finds buyers at key support level
EVN.AX breaks below previous session low
TQ Sentiment
Report Sentiment: 60% Bearish
Technical Forecast:

EVN.AX ended the week 2.11% higher at 2.91 after losing A$0.02 (-0.68%) today. Closing below Thursday's low at 2.92, the market confirms its breakout through the previous session's low having traded A$0.04 below it intraday.

Daily chart for EVN.AX

Friday's trading range was A$0.08 (2.71%), that's slightly below last trading month's daily average range of A$0.09. Things look different on a weekly scale, where volatility is way below the markets average with the monthly volatility being below average.

Price Action

Even with a strong opening Evolution Mining closed below the prior day's open and close, forming a bearish Engulfing Candle.


After trading as low as 2.88 during the day, the share bounced off the key support level at 2.90. The failure to close below the support might increase that levels importance as support going forward.


Though the stock is experiencing a short-term up trend, this could just be a correction, as both the medium and long term trends are still in negative territory. EVN.AX broke below the 200-day moving average at 2.93 today for the first time since July 30th.

Order Flow

Buying might accelerate should prices move above the close-by swing high at 2.98 where further buy stops could get activated.


While classical technical analysis indicates a slightly bearish sentiment for the next trading day, our quantitative statistics show a different picture being slightly bullish.

Market Conditions for Evolution Mining Limited
Condition Forecast Direction Win Avg Worst Best Events
3 Consecutive Lower Closes TQ Pro Members Only
Closed below last periods low TQ Pro Members Only
Very Strong Down Move TQ Pro Members Only
Black Candle TQ Pro Members Only
Strong Down Move TQ Pro Members Only
More market conditions identified for TQ Pro members...
Learn more about TQ Pro
Trending Assets

Upgrade your trading!

Get the stats behind the charts

Find out what happened when Evolution Mining Limited traded like this in the past. See the odds for each technical pattern with expected gain and loss.

Stocks Top Movers
ETHUSD 313.2627.54 9.64%
BTCUSD 6,552.78258.70 4.11%
NATGAS 2.9440.033 1.13%
GOLD 1,191.810.8 0.91%
CRUDE 65.200.47 0.73%
CAC 5,344.93-4.09 -0.08%
DAX 12,210.55-26.62 -0.22%
USDJPY 110.50-0.40 -0.36%
DXY 95.980-0.555 -0.57%
Start your day with the facts moving the markets
By clicking "Subscribe", you agree to our terms and privacy policy.

Related Stocks

ABBV 10 day candlestick chart for ABBV98.81 0.59
ACN 10 day candlestick chart for ACN164.89 2.00
ADBE 10 day candlestick chart for ADBE245.70 -3.19
AAP 10 day candlestick chart for AAP159.72 0.23
AES 10 day candlestick chart for AES13.94 0.07
AET 10 day candlestick chart for AET198.86 0.39
AFL 10 day candlestick chart for AFL46.76 0.26
AMG 10 day candlestick chart for AMG146.59 0.30
A 10 day candlestick chart for A64.66 -0.84
ABT 10 day candlestick chart for ABT64.72 0.56