BOQ.AX soars 1.95% on high volume


Bank of Queensland (BOQ.AX) Technical Analysis Report for Jun 14, 2018 [< 1 min read]
Highlights
BOQ.AX rallies 1.95% on high volume
BOQ.AX pushes through previous session high
TQ Sentiment
Report Sentiment: 100% Bullish
Technical Forecast:
Overview

BOQ.AX finished Thursday at 9.91 surging A$0.19 (1.95%) on high volume. This is the biggest single day gain in over a month. Closing above Wednesday's high at 9.89, Bank of confirms its breakout through the previous session's high having traded A$0.12 above it intraday.

Daily chart for BOQ.AX
Volatility

Thursday's trading range was A$0.41 (4.22%), that's far above last trading month's daily average range of A$0.18. Weekly volatility is also higher, being above the markets average with the monthly volatility being above average.

Price Action

In a volatile session, prices traded above the prior day's high as well as below the previous day's low, forming a bullish Outside Bar. Notwithstanding a weak opening the market managed to close above the prior day's open and close, forming a bullish Engulfing Candle.

Trend

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

Conclusion

Even though both sentiments are bullish for the next trading day, our quantitative statistics are only bullish while the classical technical analysis metrics show a very bullish sentiment.

Market Conditions for Bank of Queensland
Condition Forecast Direction Win Avg Worst Best Events
Close to R1 Resistance TQ Pro Members Only
Closed below last periods low TQ Pro Members Only
Black Candle TQ Pro Members Only
Last Engulfing Bottom Pattern TQ Pro Members Only
Strong Down Move TQ Pro Members Only
More market conditions identified for TQ Pro members...
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Latest Report:

BOQ.AX breaks key support level

Aug 20, 2018
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