ALU.AX pushes through prior session high
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.
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.
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 Altium Limited
|Close to R1 Resistance||TQ Pro Members Only|
|Bullish Bounce off SMA 100||TQ Pro Members Only|
|Black Candle||TQ Pro Members Only|
|Close to Swing High||TQ Pro Members Only|
|Price broke through Technical Support S1||TQ Pro Members Only|
More market conditions identified for TQ Pro members...
Learn more about TQ Pro