AAD.AX fails to close above 20-day moving average
AAD.AX finished Thursday at 1.98 flat. Closing within the prior day's range, prices failed to decisively move past the previous day's trading range. Ending the day with an indecisive close, neither buyers nor sellers were able to gain control during the session.
Thursday's trading range was A$0.04 (2.03%), that's slightly above last trading month's daily average range of A$0.04. Things look different on a weekly scale, where volatility is slightly below the markets average with the monthly volatility being slightly below average. Prices continued to consolidate within a tight trading range between 1.94 and 2.00 which it has been in now for the last trading week.
The stock found buyers again today around 1.96 for the third trading day in a row after having found demand at 1.96 in the prior session and at 1.96 two days ago. After spiking up to 2.00 during the day, the market found resistance at the 20-day moving average at 2.00.
The share shows weakness in the short-term (in accordance with its long-term downtrend) with only the medium-term trend being bullish.
As prices are trading close to June's high at 2.01, upside momentum might speed up should Ardent Leisure mark new highs for the month.
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 Ardent Leisure Group Ordinary/Units FP Stapled Sec
|Close to R1 Resistance||TQ Pro Members Only|
|Closed above last periods high||TQ Pro Members Only|
|2 Consecutive Higher Closes||TQ Pro Members Only|
|Bullish Intraday Reversal||TQ Pro Members Only|
|Bounced off Technical Resistance R1||TQ Pro Members Only|
More market conditions identified for TQ Pro members...
Learn more about TQ Pro