ALL.AX bounces off lows recouping most intraday losses

Aristocrat Leisure (ALL.AX) Technical Analysis Report for Jul 13, 2018 | by Techniquant Editorial Team


ALL.AX bounces off lows recouping most intraday losses
ALL.AX closes above its opening price after recovering from early selling pressure
ALL.AX finds buyers at key support level
ALL.AX closes higher for the 3rd day in a row
ALL.AX ends the day on a bullish note closing near the high of the day


Moving higher for the 3rd day in a row, ALL.AX ended the week 2.14% higher at 31.54 after gaining A$0.28 (0.9%) today. Today's closing price of 31.54 marks the highest close since June 21st. Trading up to A$0.39 lower after the open, the stock managed to reverse during the session as bulls took control ending the day above its opening price. Closing above Thursday's high at 31.41, the market confirms its breakout through the previous session's high having traded A$0.18 above it intraday. Ending with a strong close near the high of the day sets a bullish note for the next session.

Daily Candlestick Chart (ALL.AX as at Jul 13, 2018):

Daily technical analysis candlestick chart for Aristocrat Leisure (ALL.AX) as at Jul 13, 2018

Friday's trading range was A$0.58 (1.85%), that's slightly below last trading month's daily average range of A$0.64. Things look different on a weekly scale, where volatility is below the markets average with the monthly volatility being below average.

In a volatile session, prices traded above the prior day's high as well as below the previous day's low, forming a bullish Outside Bar. Although trading as low as 31.01 during the day, Aristocrat Leisure has decisively rejected those price levels and formed a bullish Pin Bar closing A$0.53 above today's low.

After trading as low as 31.01 during the day, the share bounced off the key support level at 31.32. The failure to close below the support could increase that levels importance as support going forward.

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

With prices trading close to this year's high at 32.05, upside momentum might accelerate should ALL.AX be able to break out to new highs for the year.

Market Conditions for ALL.AX as at Jul 13, 2018

Loading Market Conditions for ALL.AX (Aristocrat Leisure)...
Latest Report:

ALL.AX ends the day indecisive

Mar 22, 2019
Trending Assets

Upgrade your trading!

Get the stats behind the charts

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

Find out more
Top Movers
You have free reports remaining. Subscribe for unlimited access...SUBSCRIBELOGINGO!