PPT.AX ends the day indecisive


Perpetual Limited (PPT.AX) Technical Analysis Report for Jun 14, 2018 [< 1 min read]
Highlights
PPT.AX closes below its opening price unable to hold early session gains
PPT.AX finds support at 20-day moving average
PPT.AX closes lower for the 2nd day in a row
PPT.AX closes within previous day's range
PPT.AX ends the day indecisive
TQ Sentiment
Report Sentiment: 33% Bearish
Technical Forecast:
Overview

Moving lower for the 2nd day in a row, PPT.AX finished Thursday at 39.60 edging lower A$0.06 (-0.15%). Trading A$0.38 higher after the open, the market 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 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 PPT.AX
Volatility

Thursday's trading range was A$0.93 (2.34%), that's above last trading month's daily average range of A$0.75. Weekly volatility is also higher, being slightly above the markets average with the monthly volatility being slightly below average.

Support/Resistance

Prices are trading close to the key resistance level at 39.70. After trading as low as 39.17 during the day, the share found support at the 20-day moving average at 39.45.

Trend

Though the stock is experiencing a short-term up trend, this might just be a correction, as both the medium and long term trends are still in negative territory.

Order Flow

With prices trading close to this year's low at 38.04, downside momentum could accelerate should Perpetual Limited break out to new lows for the year.

Conclusion

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

Market Conditions for Perpetual Limited
Condition Forecast Direction Win Avg Worst Best Events
Close to S1 Support TQ Pro Members Only
Gap Up TQ Pro Members Only
Closed above last periods high TQ Pro Members Only
8 Consecutive Higher Closes TQ Pro Members Only
Shooting Star TQ Pro Members Only
More market conditions identified for TQ Pro members...
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