API.AX finds buyers around 1.54 for the third day in a row

Australian Pharm (API.AX) Technical Analysis Report for Jul 13, 2018

Highlights

API.AX finds buyers around 1.54 for the third day in a row
API.AX stuck within tight trading range
API.AX closes within previous day's range after lackluster session

TQ Sentiment

Report Sentiment: 0% Neutral
Technical Forecast:

Overview

API.AX finished the week 4.73% higher at 1.55 after losing A$0.01 (-0.64%) today. Closing within the prior day's range, prices failed to decisively move beyond the previous day's trading range in a lackluster session.

Daily chart for API.AX

Volatility

Friday's trading range was A$0.02 (1.28%), that's far below last trading month's daily average range of A$0.06. Things look different on a weekly scale, where volatility is way below the markets average with the monthly volatility being above average. Prices continued to consolidate within a tight trading range between 1.54 and 1.58 which it has been in now for the last three days.

Price Action

Despite a strong opening Australian Pharm closed below the prior day's open and close, forming a bearish Engulfing Candle.

Support/Resistance

The market found buyers again today around 1.54 for the third trading day in a row after having found demand at 1.54 in the previous session and at 1.54 two days ago.

Trend

While the stock is currently in a short-term down trend, this might just be a correction, as the medium and long term trends are both positive.

Order Flow

Buying could accelerate should prices move above the close-by swing high at 1.58 where further buy stops might get activated. As prices are trading close to July's high at 1.64, upside momentum could speed up should the share mark new highs for the month.

Conclusion

Both sentiments, the classical technical analysis and our quantitative statistics are in perfect alignment today showing a neutral sentiment for the next trading day.

Market Conditions for Australian Pharm

Loading Market Conditions for $API.AX (Australian Pharm)...
Trending Assets

Upgrade your trading!

Get the stats behind the charts

Find out what happened when Australian Pharm traded like this in the past. See the odds for each technical pattern with expected gain and loss.

Find out more
Top Market Movers

Related Stocks

ANN.AX 10 day candlestick chart for ANN.AX 25.48 0.00 (0.00%)
COH.AX 10 day candlestick chart for COH.AX 201.56 -0.08 (-0.04%)
CSL.AX 10 day candlestick chart for CSL.AX 204.32 -2.80 (-1.35%)
EHE.AX 10 day candlestick chart for EHE.AX 2.36 -0.05 (-2.07%)
FPH.AX 10 day candlestick chart for FPH.AX 13.96 0.10 (0.72%)
GTY.AX 10 day candlestick chart for GTY.AX 2.25 0.00 (0.00%)
GXL.AX 10 day candlestick chart for GXL.AX 3.86 0.07 (1.85%)
HSO.AX 10 day candlestick chart for HSO.AX 2.10 0.03 (1.45%)
MYX.AX 10 day candlestick chart for MYX.AX 1.25 0.00 (0.00%)
NAN.AX 10 day candlestick chart for NAN.AX 3.11 -0.05 (-1.58%)
You have free reports remaining. Subscribe for unlimited access...SUBSCRIBELOGINGO!