HSO.AX unable to break through key resistance level

Healthscope Limited (HSO.AX) Technical Analysis Report for Jul 13, 2018

Highlights

HSO.AX breaks below 20-day moving average
HSO.AX unable to break through key resistance level
HSO.AX breaks below previous session low
HSO.AX falls to lowest close since June 22nd
HSO.AX ends the day indecisive

TQ Sentiment

Report Sentiment:
60% Bearish
Technical Forecast:
TQ Pro Only
See the overall Technical Analysis forecast for today.

Overview

HSO.AX ended the week -3.52% lower at 2.19 after losing A$0.04 (-1.79%) today. Today's closing price of 2.19 marks the lowest close since June 22nd. Closing below Thursday's low at 2.20, the market confirms its breakout through the prior session's low having traded A$0.02 below it intraday. Ending the day with an indecisive close, neither buyers nor sellers were able to gain control during the session.

Daily chart for HSO.AX

Volatility

Friday's trading range was A$0.04 (1.83%), that's slightly below last trading month's daily average range of A$0.05. Things look different on a weekly scale, where volatility is slightly above the markets average with the monthly volatility being slightly below average.

Support/Resistance

Unable to break through the key technical resistance level at 2.21, the share closed below it after spiking as high as 2.22 during the day. The failure to close above the resistance could increase that levels importance as resistance going forward.

Trend

Though still in a long-term uptrend, the short and medium-term trends both turned bearish already. The stock broke below the 20-day moving average at 2.22 today for the first time since July 10th.

Order Flow

Further selling might move prices lower should the market test June's close-by low at 2.15.

Conclusion

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 Healthscope Limited

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Latest Report:

HSO.AX stuck within tight trading range

Sep 25, 2018
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