CCP.AX dominated by bulls lifting the market higher throughout the day


Credit Corp Group (CCP.AX) Technical Analysis Report for Jun 14, 2018 [< 1 min read]
Highlights
CCP.AX dominated by bulls lifting the market higher throughout the day
CCP.AX finds buyers again around 18.24
CCP.AX closes within previous day's range
TQ Sentiment
Report Sentiment: 66% Bullish
Technical Forecast:
Overview

CCP.AX ended Thursday at 18.47 gaining A$0.16 (0.87%). 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.

Daily chart for CCP.AX
Volatility

Thursday's trading range was A$0.30 (1.64%), that's slightly below last trading month's daily average range of A$0.38. Things look different on a weekly scale, where volatility is slightly above the markets average with the monthly volatility being slightly below average.

Support/Resistance

After having been unable to move lower than 18.25 in the previous session, the stock found buyers again around the same price level today at 18.24.

Trend

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

Order Flow

Further selling might move prices lower should the market test May's close-by low at 17.92.

Conclusion

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

Market Conditions for Credit Corp Group
Condition Forecast Direction Win Avg Worst Best Events
White Candle TQ Pro Members Only
Low close to previous low TQ Pro Members Only
Closed above last periods high TQ Pro Members Only
RSI(2) above 80 TQ Pro Members Only
Bullish Outside Bar TQ Pro Members Only
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