BAP.AX ends the day on a bullish note closing near the high of the day


Bapcor Limited (BAP.AX) Technical Analysis Report for Jun 14, 2018 [< 1 min read]
Highlights
BAP.AX dominated by bulls lifting the market higher throughout the day
BAP.AX ends the day on a bullish note closing near the high of the day
BAP.AX finds buyers again around 6.75
BAP.AX closes within previous day's range
TQ Sentiment
Technical Forecast:
Overview

BAP.AX finished Thursday at 6.83 gaining A$0.05 (0.74%). The bulls were in full control today, moving the market higher throughout the whole session. Closing within the previous day's range, prices failed to decisively move past the prior day's trading range. Ending with a strong close near the high of the day sets a bullish note for the next session.

Daily chart for BAP.AX
Volatility

Thursday's trading range was A$0.10 (1.48%), that's slightly above last trading month's daily average range of A$0.10. Weekly volatility is also higher, being slightly above the markets average with the monthly volatility being way below average.

Support/Resistance

After having been unable to move lower than 6.76 in the previous session, the share found buyers again around the same price level today at 6.75.

Trend

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

Order Flow

Buying might accelerate should prices move above the nearby swing high at 6.93 where further buy stops could get activated.

Conclusion

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

Market Conditions for Bapcor Limited
ConditionForecastDirectionWinAvgWorstBestEvents
Close to R1 Resistance TQ Pro Members Only
Strong Up Move TQ Pro Members Only
Very Strong Up Move TQ Pro Members Only
Bullish Break through SMA 20 TQ Pro Members Only
Closed above last periods high TQ Pro Members Only
More market conditions identified for TQ Pro members...
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