AOG.AX ends the day indecisive


Aveo Group Ordinary/Units FP Stapled Securities (AOG.AX) Technical Analysis Report for Aug 10, 2018 [< 1 min read]
Highlights
AOG.AX closes below its opening price unable to hold early session gains
AOG.AX closes within previous day's range after lackluster session
AOG.AX ends the day indecisive
TQ Sentiment
Report Sentiment: 0% Neutral
Technical Forecast:
Overview

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 chart for AOG.AX
Volatility

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.

Support/Resistance

Prices are trading close to a key support level at 2.18.

Trend

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

Order Flow

Selling could accelerate should prices move below the nearby swing low at 2.18 where further sell stops might get activated.

Conclusion

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

Market Conditions for Aveo Group Ordinary/Units FP Stapled Securities
Condition Forecast Direction Win Avg Worst Best Events
Close to S1 Support TQ Pro Members Only
Price broke through Technical Resistance R1 TQ Pro Members Only
2 Consecutive Higher Closes TQ Pro Members Only
Close above the upper Bollinger Band TQ Pro Members Only
More market conditions identified for TQ Pro members...
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