AMP.AX runs into sellers again around 3.65
AMP Limited (AMP.AX) Technical Analysis Report for Jun 14, 2018 | by Techniquant Editorial Team
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 Candlestick Chart (AMP.AX as at Jun 14, 2018):
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.
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.
The trend is clearly bearish, showing an intact downtrend in the short, medium and long-term.
Selling might speed up should prices move below the nearby swing low at 3.56 where further sell stops could get activated.