AMP.AX closes within previous day's range

AMP Limited (AMP.AX) Technical Analysis Report for Sep 14, 2018

Highlights

AMP.AX closes above its opening price after recovering from early selling pressure
AMP.AX closes within previous day's range
AMP.AX ends the day indecisive

TQ Sentiment

Report Sentiment: 33% Bullish
Technical Forecast:

Overview

AMP.AX ended the week -4.85% lower at 3.14 after gaining A$0.01 (0.32%) today. Trading up to A$0.05 lower after the open, the market managed to reverse during the session as bulls took control ending the day above its opening price. Closing within the prior day's range, prices failed to decisively move beyond 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 AMP.AX

Volatility

Friday's trading range was A$0.09 (2.88%), that's above last trading month's daily average range of A$0.06. Weekly volatility is also higher, being above the markets average with the monthly volatility being above average.

Trend

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

Conclusion

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 AMP Limited

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