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


Technical Analysis Report for WFD.AX - May 17, 2018 [< 1 min read]
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
TQ Sentiment
Technical Forecast:
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 chart for WFD.AX
Volatility

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.

Support/Resistance

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.

Trend

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

Conclusion

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

Report Market Conditions
ConditionForecastDirectionWinAvgWorstBest
Bounced off Technical Support S1 TQ Pro Members Only
Bullish Bounce off SMA 100 TQ Pro Members Only
Closed below last periods low TQ Pro Members Only
6 Consecutive Lower Closes TQ Pro Members Only
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