ALQ.AX soars 2.14% closing A$0.16 higher
Als Limited (ALQ.AX) Technical Analysis Report for Jul 13, 2018 | by Techniquant Editorial Team
Moving higher for the 2nd day in a row, ALQ.AX ended the week 2.41% higher at 7.64 after surging A$0.16 (2.14%) today. This is the biggest single day gain in over a month. Today's closing price of 7.64 marks the highest close since June 21st. Closing above Thursday's high at 7.55, the market confirms its breakout through the previous session's high having traded A$0.13 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 (ALQ.AX as at Jul 13, 2018):
Friday's trading range was A$0.21 (2.8%), that's above last trading month's daily average range of A$0.17. Weekly volatility is also higher, being slightly above the markets average with the monthly volatility being slightly below average.
Breaking through the key resistance level at 7.55 today, it is now likely to act as support going forward. Prices are trading close to the key resistance level at 7.71. After trading as low as 7.47 during the day, Als Limited found support at the 200-day moving average at 7.49.
The stock shows strength in the short-term supported by its long-term uptrend with only the medium-term trend being bearish. The share managed to break above the 200-day moving average at 7.49 today for the first time since July 3rd.