AMP.AX runs into sellers again around 3.65


AMP Limited (AMP.AX) Technical Analysis Report for Jun 14, 2018 [< 1 min read]
Highlights
AMP.AX closes higher for the 2nd day in a row
AMP.AX runs into sellers again around 3.65
AMP.AX closes within previous day's range after lackluster session
TQ Sentiment
Report Sentiment: 25% Bearish
Technical Forecast:
Overview

Moving higher for the 2nd day in a row, AMP.AX finished Thursday at 3.63 gaining A$0.02 (0.55%). Closing within the prior day's range, prices failed to decisively move past the previous day's trading range in a lackluster session.

Daily chart for AMP.AX
Volatility

Thursday's trading range was A$0.05 (1.39%), that's below last trading month's daily average range of A$0.07. Things look different on a weekly scale, where volatility is slightly below the markets average with the monthly volatility being slightly below average.

Support/Resistance

After having been unable to move above 3.64 in the prior session, the market ran into sellers again around the same price level today, failing to move higher than 3.65.

Trend

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

Order Flow

Selling might speed up should prices move below the nearby swing low at 3.56 where further sell stops could get activated.

Conclusion

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

Market Conditions for AMP Limited
Condition Forecast Direction Win Avg Worst Best Events
Close to R1 Resistance TQ Pro Members Only
White Candle TQ Pro Members Only
Close to S1 Support TQ Pro Members Only
Close to Swing High TQ Pro Members Only
Bullish Intraday Reversal TQ Pro Members Only
More market conditions identified for TQ Pro members...
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