TAH.AX closes within previous day's range


Tabcorp Holdings Limited (TAH.AX) Technical Analysis Report for Jun 14, 2018 [< 1 min read]
Highlights
TAH.AX finds support at 100-day moving average
TAH.AX closes lower for the 2nd day in a row
TAH.AX closes within previous day's range
TAH.AX ends the day indecisive
TQ Sentiment
Report Sentiment: 33% Bullish
Technical Forecast:
Overview

Moving lower for the 2nd day in a row, TAH.AX ended Thursday at 4.59 losing A$0.02 (-0.43%). Closing within the previous day's range, prices failed to decisively move beyond the prior 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 TAH.AX
Volatility

Thursday's trading range was A$0.10 (2.18%), that's above last trading month's daily average range of A$0.08. Weekly volatility is also higher, being above the markets average with the monthly volatility being slightly above average.

Support/Resistance

Prices are trading close to a key support level at 4.52. Prices are trading close to the key resistance level at 4.66. After trading as low as 4.54 during the day, the market found support at the 100-day moving average at 4.57.

Trend

Though still in a long-term downtrend, the short and medium-term trends both turned bullish already.

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 Tabcorp Holdings Limited
Condition Forecast Direction Win Avg Worst Best Events
Close to R1 Resistance TQ Pro Members Only
Close to S1 Support TQ Pro Members Only
Close near low of period TQ Pro Members Only
Bounced off Technical Resistance R1 TQ Pro Members Only
Bearish Intraday Reversal TQ Pro Members Only
More market conditions identified for TQ Pro members...
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