ANZ.AX ends the day indecisive
ANZ Banking Group (ANZ.AX) Technical Analysis Report for Jul 13, 2018 | by Techniquant Editorial Team
ANZ.AX ended the week 0.07% higher at 29.01 after losing A$0.19 (-0.65%) today on low volume. Trading A$0.20 higher after the open, ANZ Banking was unable to hold its gains as the bears took control ending the day below its opening price. Closing within the prior day's range, prices failed to decisively move past 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 Candlestick Chart (ANZ.AX as at Jul 13, 2018):
Friday's trading range was A$0.58 (1.99%), that's above last trading month's daily average range of A$0.49. Things look different on a weekly scale, where volatility is below the markets average with the monthly volatility being slightly below average.
Prices are trading close to a key support level at 28.79. Unable to break through the key technical resistance level at 29.32, the market closed below it after spiking as high as 29.40 during the day. The failure to close above the resistance might increase that levels importance as resistance going forward.
The trend is clearly bullish, showing an intact uptrend in the short, medium and long-term.