QBE.AX falls to lowest close since September 30, 2016


QBE Insurance Group Ltd (QBE.AX) Technical Analysis Report for Jun 14, 2018 [< 1 min read]
Highlights
QBE.AX closes lower for the 2nd day in a row
QBE.AX finds buyers again around 9.28
QBE.AX falls to lowest close since September 30, 2016
QBE.AX closes within previous day's range after lackluster session
TQ Sentiment
Report Sentiment: 20% Bullish
Technical Forecast:
Overview

Moving lower for the 2nd day in a row, QBE.AX ended Thursday at 9.30 losing A$0.01 (-0.11%). Today's closing price of 9.30 marks the lowest close since September 30, 2016. Closing within the prior day's range, prices failed to decisively move beyond the previous day's trading range in a lackluster session.

Daily chart for QBE.AX
Volatility

Thursday's trading range was A$0.06 (0.65%), that's far below last trading month's daily average range of A$0.13. Things look different on a weekly scale, where volatility is below the markets average with the monthly volatility being above average.

Support/Resistance

After having been unable to move lower than 9.28 in the prior session, QBE Insurance found buyers again around the same price level today at 9.28.

Trend

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

Order Flow

Buying might speed up should prices move above the close-by swing high at 9.40 where further buy stops could get triggered.

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 QBE Insurance Group Ltd
Condition Forecast Direction Win Avg Worst Best Events
3 Consecutive Lower Closes TQ Pro Members Only
Closed below last periods low TQ Pro Members Only
Close to S1 Support TQ Pro Members Only
Bearish Break through SMA 200 TQ Pro Members Only
Close to Swing High TQ Pro Members Only
More market conditions identified for TQ Pro members...
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