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.