QBE.AX falls to lowest close since September 30, 2016
QBE Insurance Group Ltd (QBE.AX) Technical Analysis Report for Jun 14, 2018 | by Techniquant Editorial Team
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 Candlestick Chart (QBE.AX as at Jun 14, 2018):
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.
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.
The trend is clearly bearish, showing an intact downtrend in the short, medium and long-term.
Buying might speed up should prices move above the close-by swing high at 9.40 where further buy stops could get triggered.