FLT.AX closes lower for the 2nd day in a row
Flight Centre Travel (FLT.AX) Technical Analysis Report for Sep 14, 2018
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.
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.
Prices are trading close to the key resistance level at 56.18.
The trend is clearly bearish, showing an intact downtrend in the short, medium and long-term.
While classical technical analysis indicates a neutral sentiment for the next trading day, our quantitative statistics show a different picture being bearish.
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