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
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):
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.