APO.AX closes higher for the 3rd day in a row
Apn Outdoor Group (APO.AX) Technical Analysis Report for Jun 14, 2018 | by Techniquant Editorial Team
Moving higher for the 3rd day in a row, APO.AX ended Thursday at 5.75 gaining A$0.01 (0.17%). 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 (APO.AX as at Jun 14, 2018):
Thursday's trading range was A$0.17 (2.96%), that's slightly above last trading month's daily average range of A$0.14. Things look different on a weekly scale, where volatility is way below the markets average with the monthly volatility being above average.
Unable to break through the key technical resistance level at 5.81, the market closed below it after spiking as high as 5.89 during the day. The failure to close above the resistance might increase that levels importance as resistance going forward. The stock found buyers again today around 5.72 for the third trading day in a row after having found demand at 5.71 in the prior session and at 5.70 two days ago.
The trend is clearly bullish, showing an intact uptrend in the short, medium and long-term.
Selling could speed up should prices move below the nearby swing low at 5.66 where further sell stops might get activated.