WFD.AX closes lower for the 6th day in a row


Westfield Corporation Ltd (WFD.AX) Technical Analysis Report for May 17, 2018 | by Techniquant Editorial Team

Highlights

WFD.AX finds buyers at key support level
WFD.AX finds support at 100-day moving average
WFD.AX closes lower for the 6th day in a row
WFD.AX breaks below previous session low
WFD.AX falls to lowest close since April 26th

Overview

Moving lower for the 6th day in a row, WFD.AX ended Thursday at 8.94 losing A$0.08 (-0.89%). Today's closing price of 8.94 marks the lowest close since April 26th. Closing below Wednesday's low at 8.98, the stock confirms its breakout through the previous session's low having traded A$0.08 below it intraday.

Daily Candlestick Chart (WFD.AX as at May 17, 2018):

Daily technical analysis candlestick chart for Westfield Corporation Ltd (WFD.AX) as at May 17, 2018

Thursday's trading range was A$0.10 (1.11%), that's far above last trading month's daily average range of A$0.07. Weekly volatility is also higher, being above the markets average with the monthly volatility being slightly below average.

After trading as low as 8.90 during the day, Westfield Corporation bounced off the key support level at 8.91. The failure to close below the support could increase that levels importance as support going forward. After trading as low as 8.90 during the day, the share found support at the 100-day moving average at 8.91.

The market shows weakness in the short-term (in accordance with its long-term downtrend) with only the medium-term trend being bullish.


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