CCP.AX dominated by bulls lifting the market higher throughout the day
Credit Corp Group (CCP.AX) Technical Analysis Report for Jun 14, 2018 | by Techniquant Editorial Team
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 Candlestick Chart (CCP.AX as at Jun 14, 2018):
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.
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.
The trend is clearly bearish, showing an intact downtrend in the short, medium and long-term.
Further selling might move prices lower should the market test May's close-by low at 17.92.