AZJ.AX closes higher for the 2nd day in a row
Aurizon Holdings Limited (AZJ.AX) Technical Analysis Report for Apr 17, 2018 | by Techniquant Editorial Team
Moving higher for the 2nd day in a row, AZJ.AX finished Tuesday at 4.45 gaining A$0.02 (0.45%). Today's closing price of 4.45 marks the highest close since March 12th. Closing within the previous day's range, prices failed to decisively move past the prior 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 (AZJ.AX as at Apr 17, 2018):
Tuesday's trading range was A$0.12 (2.71%), that's far above last trading month's daily average range of A$0.08. Weekly volatility is also higher, being above the markets average with the monthly volatility being slightly below average.
Prices are trading close to a key support level at 4.39. Unable to break through the key technical resistance level at 4.52, Aurizon Holdings closed below it after spiking as high as 4.53 during the day. The failure to close above the resistance might increase that levels importance as resistance going forward.
While the share is experiencing a short-term up trend, this could just be a correction, as both the medium and long term trends are still in negative territory.