AOG.AX ends the day indecisive
Aveo Group Ordinary/Units FP Stapled Securities (AOG.AX) Technical Analysis Report for Aug 10, 2018 | by Techniquant Editorial Team
AOG.AX finished the week -3.93% lower at 2.20 after flat today. Trading A$0.01 higher after the open, Aveo Group 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 beyond the previous day's trading range in a lackluster session. Ending the day with an indecisive close, neither buyers nor sellers were able to gain control during the session.
Daily Candlestick Chart (AOG.AX as at Aug 10, 2018):
Friday's trading range was A$0.03 (1.36%), that's below last trading month's daily average range of A$0.04. Things look different on a weekly scale, where volatility is slightly above the markets average with the monthly volatility being slightly below average.
Prices are trading close to a key support level at 2.18.
The trend is clearly bearish, showing an intact downtrend in the short, medium and long-term.
Selling could accelerate should prices move below the nearby swing low at 2.18 where further sell stops might get activated.