JBH.AX breaks below prior session low


JB Hi-Fi Limited (JBH.AX) Technical Analysis Report for Jun 14, 2018 [< 1 min read]
Highlights
JBH.AX closes lower for the 3rd day in a row
JBH.AX breaks below previous session low
JBH.AX falls to lowest close since May 15th
JBH.AX ends the day indecisive
TQ Sentiment
Report Sentiment: 40% Bearish
Technical Forecast:
Overview

Moving lower for the 3rd day in a row, JBH.AX ended Thursday at 22.82 losing A$0.16 (-0.7%). Today's closing price of 22.82 marks the lowest close since May 15th. Closing below Wednesday's low at 22.95, the stock confirms its breakout through the prior session's low having traded A$0.41 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 JBH.AX
Volatility

Thursday's trading range was A$0.46 (2.01%), that's slightly below last trading month's daily average range of A$0.51. Things look different on a weekly scale, where volatility is slightly above the markets average with the monthly volatility being way below average.

Support/Resistance

Prices are trading close to the key resistance level at 23.14.

Trend

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

Order Flow

With prices trading close to this year's low at 21.99, downside momentum could accelerate should JB Hi-Fi break out to new lows for the year.

Conclusion

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

Market Conditions for JB Hi-Fi Limited
Condition Forecast Direction Win Avg Worst Best Events
Close to R1 Resistance TQ Pro Members Only
Low close to previous low TQ Pro Members Only
Closed above last periods high TQ Pro Members Only
Bullish Spinning Top TQ Pro Members Only
Bearish Hikkake Pattern TQ Pro Members Only
More market conditions identified for TQ Pro members...
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