PGH.AX declines to lowest close since July 2nd

Pact Group Holdings Limited (PGH.AX) Technical Analysis Report for Jul 13, 2018

Highlights

PGH.AX breaks below previous session low
PGH.AX falls to lowest close since July 2nd

TQ Sentiment

Report Sentiment: 50% Bearish
Technical Forecast:

Overview

PGH.AX ended the week -2.08% lower at 5.19 after losing A$0.05 (-0.95%) today. Today's closing price of 5.19 marks the lowest close since July 2nd. Closing below Thursday's low at 5.21, Pact Group confirms its breakout through the prior session's low having traded A$0.07 below it intraday.

Daily chart for PGH.AX

Volatility

Friday's trading range was A$0.12 (2.28%), that's slightly above last trading month's daily average range of A$0.12. Weekly volatility is also higher, being slightly above the markets average with the monthly volatility being below average.

Trend

Although still in a long-term uptrend, the short and medium-term trends both turned bearish already.

Order Flow

Further selling might move prices lower should the market test June's nearby low at 5.12.

Conclusion

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

Market Conditions for Pact Group Holdings Limited

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Latest Report:

PGH.AX tanks -3.3% on low volume

Sep 24, 2018
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