FLT.AX closes lower for the 2nd day in a row

Overview

Moving lower for the 2nd day in a row, FLT.AX finished the week -3.4% lower at 55.43 after losing A$0.35 (-0.63%) today. Today's closing price of 55.43 marks the lowest close since April 23rd. Closing within the prior day's range, prices failed to decisively move beyond the previous day's trading range in a lackluster session. Ending the day with an indecisive close, neither buyers nor sellers were able to gain control during the session.

Volatility

Friday's trading range was A$0.87 (1.56%), that's below last trading month's daily average range of A$1.64. Things look different on a weekly scale, where volatility is way below the markets average with the monthly volatility being above average.

Support/Resistance

Prices are trading close to the key resistance level at 56.18.

Trend

The trend is clearly bearish, showing an intact downtrend in the short, medium and long-term.

Conclusion

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