ALU.AX pushes through prior session high
Altium Limited (ALU.AX) Technical Analysis Report for Aug 10, 2018 | by Techniquant Editorial Team
Moving higher for the 3rd day in a row, ALU.AX finished the week 0.73% higher at 20.79 after gaining A$0.10 (0.48%) today. Today's closing price of 20.79 marks the highest close since July 30th. Closing above Thursday's high at 20.77, the stock confirms its breakout through the prior session's high having traded A$0.17 above it intraday. Ending the day with an indecisive close, neither buyers nor sellers were able to gain control during the session.
Daily Candlestick Chart (ALU.AX as at Aug 10, 2018):
Friday's trading range was A$0.27 (1.3%), that's far below last trading month's daily average range of A$0.56. Things look different on a weekly scale, where volatility is below the markets average with the monthly volatility being below average.
Prices are trading close to the key resistance level at 20.95.
The trend is clearly bearish, showing an intact downtrend in the short, medium and long-term.