NCM.AX slips to lowest close since May 2nd


Newcrest Mining Ltd (NCM.AX) Technical Analysis Report for May 17, 2018 [< 1 min read]
Highlights
NCM.AX closes above its opening price after recovering from early selling pressure
NCM.AX finds buyers at key support level
NCM.AX closes lower for the 4th day in a row
NCM.AX falls to lowest close since May 2nd
NCM.AX closes within previous day's range
TQ Sentiment
Report Sentiment: 33% Bullish
Technical Forecast:
Overview

Moving lower for the 4th day in a row, NCM.AX finished Thursday at 21.13 edging lower A$0.01 (-0.05%). Today's closing price of 21.13 marks the lowest close since May 2nd. Trading up to A$0.30 lower after the open, the market managed to reverse during the session as bulls took control ending the day above its opening price. Closing within the prior day's range, prices failed to decisively move past the previous day's trading range. Ending the day with an indecisive close, neither buyers nor sellers were able to gain control during the session.

Daily chart for NCM.AX
Volatility

Thursday's trading range was A$0.43 (2.04%), that's above last trading month's daily average range of A$0.36. Weekly volatility is also higher, being way above the markets average with the monthly volatility being slightly above average.

Support/Resistance

After trading as low as 20.82 during the day, Newcrest Mining bounced off the key support level at 21.03. The failure to close below the support might increase that levels importance as support going forward.

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 very bearish.

Market Conditions for Newcrest Mining Ltd
Condition Forecast Direction Win Avg Worst Best Events
3 Consecutive Lower Closes TQ Pro Members Only
Close to R1 Resistance TQ Pro Members Only
Close to S1 Support TQ Pro Members Only
Bounced off Technical Support S1 TQ Pro Members Only
Bullish Intraday Reversal TQ Pro Members Only
More market conditions identified for TQ Pro members...
Learn more about TQ Pro
Trending Assets

Upgrade your trading!

Get the stats behind the charts

Find out what happened when Newcrest Mining Ltd traded like this in the past. See the odds for each technical pattern with expected gain and loss.

Signup
Stocks Top Movers
ETHUSD 313.2627.54 9.64%
BTCUSD 6,552.78258.70 4.11%
NATGAS 2.9440.033 1.13%
GOLD 1,191.810.8 0.91%
CRUDE 65.200.47 0.73%
CAC 5,344.93-4.09 -0.08%
DAX 12,210.55-26.62 -0.22%
USDJPY 110.50-0.40 -0.36%
DXY 95.980-0.555 -0.57%
Start your day with the facts moving the markets
By clicking "Subscribe", you agree to our terms and privacy policy.

Related Stocks

ABBV 10 day candlestick chart for ABBV98.81 0.59
0.60%
ACN 10 day candlestick chart for ACN164.89 2.00
1.23%
ADBE 10 day candlestick chart for ADBE245.70 -3.19
-1.28%
AAP 10 day candlestick chart for AAP159.72 0.23
0.14%
AES 10 day candlestick chart for AES13.94 0.07
0.50%
AET 10 day candlestick chart for AET198.86 0.39
0.20%
AFL 10 day candlestick chart for AFL46.76 0.26
0.56%
AMG 10 day candlestick chart for AMG146.59 0.30
0.21%
A 10 day candlestick chart for A64.66 -0.84
-1.28%
ABT 10 day candlestick chart for ABT64.72 0.56
0.87%