SUL.AX breaks below 100-day moving average


Super Ret Rep Limited (SUL.AX) Technical Analysis Report for Sep 14, 2018 | by Techniquant Editorial Team

Highlights

SUL.AX breaks below 100-day moving average
SUL.AX closes lower for the 4th day in a row
SUL.AX ends the day on a bearish note closing near the low of the day
SUL.AX breaks below previous session low
SUL.AX falls to lowest close since August 13th

Overview

Moving lower for the 4th day in a row, SUL.AX ended the week -4.15% lower at 8.55 after losing A$0.17 (-1.95%) today. Today's closing price of 8.55 marks the lowest close since August 13th. Closing below Thursday's low at 8.67, the share confirms its breakout through the prior session's low having traded A$0.14 below it intraday. Ending with a weak close near the low of the day sets a bearish note for the next session.

Daily Candlestick Chart (SUL.AX as at Sep 14, 2018):

Daily technical analysis candlestick chart for Super Ret Rep Limited (SUL.AX) as at Sep 14, 2018

Friday's trading range was A$0.21 (2.42%), that's slightly below last trading month's daily average range of A$0.25. Things look different on a weekly scale, where volatility is below the markets average with the monthly volatility being slightly below average.

Prices are trading close to a key support level at 8.39.

Though the stock is currently in a short-term down trend, this might just be a correction, as the medium and long term trends are both positive. The market broke below the 100-day moving average at 8.58 today for the first time since February 14th.

Trading close to July's low at 8.11 we could see further downside momentum if potential sell stops at the level get activated.


Market Conditions for SUL.AX as at Sep 14, 2018

Loading Market Conditions for SUL.AX (Super Ret Rep Limited)...
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SUL.AX finds buyers at key support level

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