AZJ.AX closes higher for the 2nd day in a row


Aurizon Holdings Limited (AZJ.AX) Technical Analysis Report for Apr 17, 2018 [< 1 min read]
Highlights
AZJ.AX unable to break through key resistance level
AZJ.AX closes higher for the 2nd day in a row
AZJ.AX rises to highest close since March 12th
AZJ.AX closes within previous day's range
AZJ.AX ends the day indecisive
TQ Sentiment
Report Sentiment: 0% Neutral
Technical Forecast:
Overview

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 chart for AZJ.AX
Volatility

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.

Support/Resistance

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.

Trend

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.

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 Aurizon Holdings Limited
ConditionForecastDirectionWinAvgWorstBestEvents
Bearish Bounce off SMA 50 TQ Pro Members Only
Close near high of period TQ Pro Members Only
High close to previous High TQ Pro Members Only
Close to Swing High TQ Pro Members Only
Bullish Intraday Reversal TQ Pro Members Only
More market conditions identified for TQ Pro members...
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