Caltex Australia Limited (CTX.ASX)

29 January 2019



Caltex Australia Limited (CTX.ASX) | 29/01/2019 | 1 Year, Daily Chart
$39.00
$37.00
$35.00
$33.00
$31.00
$29.00
$27.00
$25.00
$23.00

28/01/2018
25/02/2018
25/03/2018
26/04/2018
24/05/2018
22/06/2018
20/07/2018
17/08/2018
14/09/2018
11/10/2018
8/11/2018
6/12/2018
8/01/2019

Breakouts have
been quickly sold off

Consolidation period ends quickly
Stock moves above 50-day average
with break below 50 day average
which flattens out

Lower highs, obvious sign of
downtrend

Break below previous support

Stock consolidating above 50 day moving
average???

5 Year Chart
38
33
28
23
18

Technical Summary: The one year chart of CTX shows a stock that is in a downtrend. The stock has moved from the top left of the screen to the bottom right. The stock has put in a series of lower highs and lows. Moves to the 50 day moving average have generally been short run with the average continuing to trend down. At the current juncture the stock appears to be consolidating around the 50 day moving average. It seems to early to tell at this stage whether this is the end of the trend or if there is more to go. There is probably little to do here unless you were buying on a fundamental or from a
valuation perspective.

Strong downtrend for CTX

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