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
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
ConditionForecastDirectionWinAvgWorstBestEvents
Close to R1 Resistance TQ Pro Members Only
Strong Up Move TQ Pro Members Only
Close to S1 Support TQ Pro Members Only
Close to Swing High TQ Pro Members Only
Up Close near high of period TQ Pro Members Only
More market conditions identified for TQ Pro members...
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