PGH.AX declines to lowest close since July 2nd
Pact Group Holdings Limited (PGH.AX) Technical Analysis Report for Jul 13, 2018
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.
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.
Although still in a long-term uptrend, the short and medium-term trends both turned bearish already.
Further selling might move prices lower should the market test June's nearby low at 5.12.
While classical technical analysis indicates a neutral sentiment for the next trading day, our quantitative statistics show a different picture being slightly bullish.
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