NUF.AX snaps to lowest close since March 7th
Nufarm Limited (NUF.AX) Technical Analysis Report for Jul 13, 2018
Moving lower for the 6th day in a row, NUF.AX finished the week -6.39% lower at 8.20 after losing A$0.02 (-0.24%) today. Today's closing price of 8.20 marks the lowest close since March 7th. Trading A$0.08 higher after the open, Nufarm Limited was unable to hold its gains as the bears took control ending the day below its opening price. Closing within the prior day's range, prices failed to decisively move beyond 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.
Friday's trading range was A$0.18 (2.19%), that's slightly above last trading month's daily average range of A$0.16. Weekly volatility is also higher, being way above the markets average with the monthly volatility being above average.
After having been unable to move above 8.32 in the prior session, the share ran into sellers again around the same price level today, failing to move higher than 8.30.
Though still in a long-term uptrend, the short and medium-term trends both turned bearish already.
While classical technical analysis indicates a neutral sentiment for the next trading day, our quantitative statistics show a different picture being slightly bearish.