Bendigo Bank

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Open/close reversal confirmed for Bendigo Bank signalling the buyers have lost control

Open/close reversal confirmed for Bendigo Bank signalling the buyers have lost control

[BEARISH]: Bendigo Bank opened in the lower part of daily range at 30.8% & closed in the lower part of the trading range at 0%. This suggests the buyers have lost control. Over the last 12 months there has been 2 trading days with the opening price in the lower shadow & the closing the price in the lower shadow giving a confirmation ratio of 0.8%. Over the last month there has been 2 trading days with the opening price in the lower price range & the closing the price in the lower price range giving a confirmation ratio of 11.1%.

Sellers continue to be keener than buyers for Bendigo Bank & are driving the price down.

Sellers continue to be keener than buyers for Bendigo Bank & are driving the price down.

[BEARISH]: Bendigo Banksellers are keener than buyers and are driving the price down. There has been 3 consecutive days of price decline for BEN adding strength to a downtrend in the first timeframe. The biggest downward movement this month has been -5.6 & the greatest daily negative change this year has been -5.6. The longest consecutive downswing rally over the last 12 months has been 8 days giving a total rally downward movement of -7.3%. This quarter, the largest downswing rally has been 3 days giving a total rally downward movement of -6.2%. The loss ratio for price rise in the first timeframe for the last 12 months is 0x giving a total win/loss ratio of 0.4x. Over the last month the average daily downward movement has been -2.300000%

Bendigo Bank: Rate of Change (14)

[BEARISH]: Bendigo Bank currently has negative rate of change of -8.855%. This means the current price is less than the price 14 days ago and therefore losing momentum & is a leading indicator of price movement in the downward direction

Bendigo Bank: 1.618 Fibonacci Extension ($11.37)

Bendigo Bank: The current Fibonacci Extension levels are: (23.61%) $9.72: (38.2%) $9.89: (50%) $10.04: (61.8%) $10.18The current support levels are: (78.6%) $10.38: (100%) $10.63: (138.2%) $11.08: (161.8%) $11.37: (261.8%) $12.56: (423.61%) $14.48

Sellers of Bendigo Bank were in control at the market close.

Sellers of Bendigo Bank were in control at the market close.

[BEARISH]: Bendigo Bank sellers in control. This is the first day of seller commitment for Bendigo Bank adding strength to an downtrend in the first timeframe & highlights the lack of commitment of buyers to carry positions overnight Over the last 12 months there has been 4 trading days with the closing price in the lower part of the range giving a confirmation ratio of 1.5%. Over the last month there has been 4 trading days with the closing price in the lower range giving a confirmation ratio of 22.2%. Currently this quarter, closing price has spent 4 days in the lower price range compared to 1 days in the upper range giving a ratio of 4x.

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