JBH.AX breaks below prior session low
JB Hi-Fi Limited (JBH.AX) Technical Analysis Report for Jun 14, 2018 | by Techniquant Editorial Team
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 Candlestick Chart (JBH.AX as at Jun 14, 2018):
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.
Prices are trading close to the key resistance level at 23.14.
The trend is clearly bearish, showing an intact downtrend in the short, medium and long-term.
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.