ALU.AX finds buyers again around 22.34


Altium Limited (ALU.AX) Technical Analysis Report for Jun 14, 2018 [< 1 min read]
Highlights
ALU.AX finds buyers again around 22.34
ALU.AX closes within previous day's range
ALU.AX ends the day indecisive
TQ Sentiment
Report Sentiment: 33% Bullish
Technical Forecast:
Overview

ALU.AX ended Thursday at 22.56 gaining A$0.13 (0.58%). 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.

Daily chart for ALU.AX
Volatility

Thursday's trading range was A$0.58 (2.58%), that's slightly below last trading month's daily average range of A$0.67. Things look different on a weekly scale, where volatility is below the markets average with the monthly volatility being slightly above average.

Price Action

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.

Support/Resistance

Prices are trading close to the key resistance level at 22.94. After having been unable to move lower than 22.35 in the prior session, Altium Limited found buyers again around the same price level today at 22.34.

Trend

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

Order Flow

Buying might accelerate should prices move above the nearby swing high at 23.05 where further buy stops could get triggered. With prices trading close to this year's high at 23.28, upside momentum might speed up should the market be able to break out to new highs for the year.

Conclusion

While classical technical analysis indicates a neutral sentiment for the next trading day, our quantitative statistics show a different picture being bullish.

Market Conditions for Altium Limited
Condition Forecast Direction Win Avg Worst Best Events
Bullish Break through SMA 100 TQ Pro Members Only
Bearish Bounce off SMA 50 TQ Pro Members Only
Close to S1 Support TQ Pro Members Only
Bullish Bounce off SMA 100 TQ Pro Members Only
6 Consecutive Higher Closes TQ Pro Members Only
More market conditions identified for TQ Pro members...
Learn more about TQ Pro
Trending Assets

Upgrade your trading!

Get the stats behind the charts

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

Signup
Stocks Top Movers
NATGAS 2.9550.029 0.99%
SPX 2,841.7619.83 0.70%
NDX 7,449.8648.69 0.66%
INDU 25,326.05138.35 0.55%
ASX 6,329.0029.40 0.47%
CAC 5,403.41-8.91 -0.16%
TBOND 143.875-0.344 -0.24%
GBPUSD 1.2722-0.0043 -0.34%
FTSE 7,611.64-30.86 -0.40%
EURUSD 1.1344-0.0065 -0.57%
Start your day with the facts moving the markets
By clicking "Subscribe", you agree to our terms and privacy policy.

Related Stocks

ABBV 10 day candlestick chart for ABBV96.14 -0.64
-0.66%
ACN 10 day candlestick chart for ACN161.24 1.01
0.63%
ADBE 10 day candlestick chart for ADBE256.05 2.51
0.99%
AAP 10 day candlestick chart for AAP154.80 9.96
6.88%
AES 10 day candlestick chart for AES13.52 0.14
1.05%
AET 10 day candlestick chart for AET197.11 2.40
1.23%
AFL 10 day candlestick chart for AFL46.51 0.21
0.45%
AMG 10 day candlestick chart for AMG147.35 0.95
0.65%
A 10 day candlestick chart for A66.99 1.05
1.59%
ABT 10 day candlestick chart for ABT63.74 0.31
0.49%