PLS.AX stuck within tight trading range


Pilbara Min Limited (PLS.AX) Technical Analysis Report for Aug 10, 2018 [< 1 min read]
Highlights
PLS.AX dominated by bears dragging the market lower throughout the day
PLS.AX stuck within tight trading range
TQ Sentiment
Report Sentiment: 33% Bearish
Technical Forecast:
Overview

PLS.AX finished the week -2.22% lower at 0.88 after flat today on low volume. The bears were in full control today, moving the market lower throughout the whole session.

Daily chart for PLS.AX
Volatility

Friday's trading range was A$0.01 (1.12%), that's far below last trading month's daily average range of A$0.04. Things look different on a weekly scale, where volatility is below the markets average with the monthly volatility being slightly below average. Prices continued to consolidate within a tight trading range between 0.86 and 0.89 which it has been in now for the last three days.

Trend

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

Order Flow

Selling might accelerate should prices move below the close-by swing low at 0.86 where further sell stops could get triggered.

Conclusion

Both sentiments, the classical technical analysis and our quantitative statistics are in perfect alignment today showing a neutral sentiment for the next trading day.

Market Conditions for Pilbara Min Limited
Condition Forecast Direction Win Avg Worst Best Events
Southern Doji TQ Pro Members Only
Long-Legged Doji TQ Pro Members Only
Doji TQ Pro Members Only
High close to previous High TQ Pro Members Only
Gravestone Doji TQ Pro Members Only
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