WOW.AX closes below its opening price unable to hold early session gains

Woolworths Ltd (WOW.AX) Technical Analysis Report for Sep 14, 2018

Highlights

WOW.AX closes below its opening price unable to hold early session gains
WOW.AX closes lower for the 3rd day in a row
WOW.AX breaks below previous session low
WOW.AX falls to lowest close since April 24th

TQ Sentiment

Report Sentiment: 50% Bearish
Technical Forecast:

Overview

Moving lower for the 3rd day in a row, WOW.AX finished the week -3.11% lower at 27.41 after losing A$0.09 (-0.33%) today on low volume. Today's closing price of 27.41 marks the lowest close since April 24th. Trading A$0.14 higher after the open, the share was unable to hold its gains as the bears took control ending the day below its opening price. Closing below Thursday's low at 27.45, the market confirms its breakout through the prior session's low having traded A$0.11 below it intraday.

Daily chart for WOW.AX

Volatility

Friday's trading range was A$0.33 (1.2%), that's slightly below last trading month's daily average range of A$0.35. Things look different on a weekly scale, where volatility is way above the markets average with the monthly volatility being slightly above average.

Trend

The trend is clearly bearish, showing an intact downtrend in the short, medium and long-term.

Conclusion

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

Market Conditions for Woolworths Ltd

Loading Market Conditions for $WOW.AX (Woolworths Ltd)...
Trending Assets

Upgrade your trading!

Get the stats behind the charts

Find out what happened when Woolworths Ltd traded like this in the past. See the odds for each technical pattern with expected gain and loss.

Find out more
Top Market Movers

Related Stocks

A2M.AX 10 day candlestick chart for A2M.AX 11.24 0.12 (1.08%)
AHY.AX 10 day candlestick chart for AHY.AX 0.71 -0.01 (-1.39%)
BAL.AX 10 day candlestick chart for BAL.AX 9.53 0.41 (4.50%)
BGA.AX 10 day candlestick chart for BGA.AX 6.85 -0.08 (-1.15%)
BKL.AX 10 day candlestick chart for BKL.AX 137.91 1.33 (0.97%)
CCL.AX 10 day candlestick chart for CCL.AX 9.64 0.04 (0.42%)
CGC.AX 10 day candlestick chart for CGC.AX 6.86 0.32 (4.89%)
GEM.AX 10 day candlestick chart for GEM.AX 1.98 0.02 (1.02%)
GNC.AX 10 day candlestick chart for GNC.AX 8.01 -0.03 (-0.37%)
IEL.AX 10 day candlestick chart for IEL.AX 10.39 0.12 (1.17%)
You have free reports remaining. Subscribe for unlimited access...SUBSCRIBELOGINGO!