NAB.AX closes below its opening price unable to hold early session gains


National Australia Bank Ltd (NAB.AX) Technical Analysis Report for Jun 14, 2018 [< 1 min read]
Highlights
NAB.AX closes below its opening price unable to hold early session gains
NAB.AX closes lower for the 4th day in a row
NAB.AX breaks below previous session low
NAB.AX falls to lowest close since November 9, 2016
NAB.AX ends the day indecisive
TQ Sentiment
Technical Forecast:
Overview

Moving lower for the 4th day in a row, NAB.AX ended Thursday at 25.95 losing A$0.19 (-0.73%). Today's closing price of 25.95 marks the lowest close since November 9, 2016. Trading A$0.08 higher after the open, the market was unable to hold its gains as the bears took control ending the day below its opening price. Closing below Wednesday's low at 26.03, the stock confirms its breakout through the prior session's low having traded A$0.13 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 NAB.AX
Volatility

Thursday's trading range was A$0.18 (0.69%), that's below last trading month's daily average range of A$0.28. Things look different on a weekly scale, where volatility is slightly below the markets average with the monthly volatility being below average.

Trend

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

Conclusion

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

Market Conditions for National Australia Bank Ltd
ConditionForecastDirectionWinAvgWorstBest
Strong Up Move TQ Pro Members Only
White Candle TQ Pro Members Only
Very Strong Up Move TQ Pro Members Only
Close to Swing High TQ Pro Members Only
Closed above last periods high TQ Pro Members Only
More market conditions identified for TQ Pro members...
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Latest Report:

NAB.AX surges 1.38% on low volume

Jun 18, 2018
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