MMS.AX ends the day on a bearish note closing near the low of the day


Mcmillan Shakespeare (MMS.AX) Technical Analysis Report for Aug 10, 2018 | by Techniquant Editorial Team

Highlights

MMS.AX dominated by bears dragging the market lower throughout the day
MMS.AX ends the day on a bearish note closing near the low of the day
MMS.AX falls to lowest close since October 24, 2017
MMS.AX closes within previous day's range

Overview

MMS.AX ended the week -7.1% lower at 15.30 after losing A$0.12 (-0.78%) today on low volume. Today's closing price of 15.30 marks the lowest close since October 24, 2017. The bears were in full control today, moving the market lower throughout the whole session. Closing within the prior day's range, prices failed to decisively move past the previous day's trading range. Ending with a weak close near the low of the day sets a bearish note for the next session.

Daily Candlestick Chart (MMS.AX as at Aug 10, 2018):

Daily technical analysis candlestick chart for Mcmillan Shakespeare (MMS.AX) as at Aug 10, 2018

Friday's trading range was A$0.32 (2.05%), that's slightly above last trading month's daily average range of A$0.28. Weekly volatility is also higher, being way above the markets average with the monthly volatility being above average.

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


Market Conditions for MMS.AX as at Aug 10, 2018

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