WFD.AX fails to close above 100-day moving average


Westfield Corporation Ltd (WFD.AX) Technical Analysis Report for Apr 17, 2018 [1 min read]
Highlights
WFD.AX finds buyers at key support level
WFD.AX fails to close above 100-day moving average
WFD.AX runs into sellers again around 8.74
WFD.AX closes within previous day's range after lackluster session
WFD.AX ends the day indecisive
TQ Sentiment
Report Sentiment: 33% Bearish
Technical Forecast:
Overview

WFD.AX ended Tuesday at 8.72 gaining A$0.04 (0.46%). Closing within the previous day's range, prices failed to decisively move beyond the prior day's trading range in a lackluster session. Ending the day with an indecisive close, neither buyers nor sellers were able to gain control during the session.

Daily chart for WFD.AX
Volatility

Tuesday's trading range was A$0.04 (0.46%), that's far below last trading month's daily average range of A$0.09. Things look different on a weekly scale, where volatility is slightly below the markets average with the monthly volatility being slightly above average.

Support/Resistance

After trading as low as 8.70 during the day, Westfield Corporation bounced off the key support level at 8.71. The failure to close below the support could increase that levels importance as support going forward. After having been unable to move above 8.73 in the previous session, the market ran into sellers again around the same price level today, failing to move higher than 8.74. After spiking up to 8.74 during the day, the share found resistance at the 100-day moving average at 8.73.

Trend

The stock shows strength in the short-term supported by its long-term uptrend with only the medium-term trend being bearish.

Order Flow

Selling might speed up should prices move below the close-by swing low at 8.65 where further sell 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 bullish.

Market Conditions for Westfield Corporation Ltd
ConditionForecastDirectionWinAvgWorstBestEvents
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