SHL.AX breaks below previous session low


Sonic Healthcare Ltd (SHL.AX) Technical Analysis Report for Aug 10, 2018 [< 1 min read]
Highlights
SHL.AX unable to break through key resistance level
SHL.AX breaks below previous session low
SHL.AX ends the day indecisive
TQ Sentiment
Report Sentiment: 40% Bearish
Technical Forecast:
Overview

SHL.AX ended the week -0.73% lower at 26.01 after losing A$0.13 (-0.5%) today. Closing below Thursday's low at 26.05, the stock confirms its breakout through the prior session's low having traded A$0.10 below it intraday. Ending the day with an indecisive close, neither buyers nor sellers were able to gain control during the session.

Daily chart for SHL.AX
Volatility

Friday's trading range was A$0.17 (0.65%), that's far below last trading month's daily average range of A$0.36. Things look different on a weekly scale, where volatility is way below the markets average with the monthly volatility being way below average.

Support/Resistance

Unable to break through the key technical resistance level at 26.10, the market closed below it after spiking as high as 26.12 during the day. The failure to close above the resistance might increase that levels importance as resistance going forward.

Trend

Though the share is currently in a short-term down trend, this could just be a correction, as the medium and long term trends are both positive.

Order Flow

Buying might accelerate should prices move above the nearby swing high at 26.29 where further buy stops could get triggered. Selling might speed up should prices move below the close-by swing low at 25.69 where further sell stops could get activated.

Conclusion

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

Market Conditions for Sonic Healthcare Ltd
Condition Forecast Direction Win Avg Worst Best Events
2 Consecutive Lower Closes TQ Pro Members Only
Closed below last periods low TQ Pro Members Only
Very Strong Down Move TQ Pro Members Only
Strong Down Move TQ Pro Members Only
RSI(2) below 20 TQ Pro Members Only
More market conditions identified for TQ Pro members...
Learn more about TQ Pro
Trending Assets

Upgrade your trading!

Get the stats behind the charts

Find out what happened when Sonic Healthcare Ltd traded like this in the past. See the odds for each technical pattern with expected gain and loss.

Signup
Stocks Top Movers
ETHUSD 285.726.43 2.30%
INDU 25,558.73396.32 1.58%
CRUDE 65.450.55 0.85%
CAC 5,349.0243.80 0.83%
SPX 2,840.6922.32 0.79%
DXY 96.535-0.045 -0.05%
GOLD 1,181.0-0.8 -0.07%
NATGAS 2.911-0.028 -0.95%
Start your day with the facts moving the markets
By clicking "Subscribe", you agree to our terms and privacy policy.

Related Stocks

ABBV 10 day candlestick chart for ABBV98.22 0.77
0.79%
ACN 10 day candlestick chart for ACN162.89 2.48
1.55%
ADBE 10 day candlestick chart for ADBE248.89 -1.63
-0.65%
AAP 10 day candlestick chart for AAP159.49 1.46
0.92%
AES 10 day candlestick chart for AES13.87 0.38
2.82%
AET 10 day candlestick chart for AET198.47 1.18
0.60%
AFL 10 day candlestick chart for AFL46.50 0.21
0.45%
AMG 10 day candlestick chart for AMG146.29 0.86
0.59%
A 10 day candlestick chart for A65.50 0.77
1.19%
ABT 10 day candlestick chart for ABT64.16 0.69
1.09%