CPU.AX closes below its opening price unable to hold early session gains
Computershare Ltd (CPU.AX) Technical Analysis Report for Jun 14, 2018 | by Techniquant Editorial Team
CPU.AX finished Thursday at 17.87 edging lower A$0.04 (-0.22%). Trading A$0.22 higher after the open, the market was unable to hold its gains as the bears took control ending the day below its opening price. Closing within the prior day's range, prices failed to decisively move beyond the previous day's trading range. Ending with a weak close near the low of the day sets a bearish note for the next session.
Daily Candlestick Chart (CPU.AX as at Jun 14, 2018):
Thursday's trading range was A$0.38 (2.11%), that's far above last trading month's daily average range of A$0.28. Things look different on a weekly scale, where volatility is slightly below the markets average with the monthly volatility being slightly below average.
Prices are trading close to a key support level at 17.79. After having been unable to move above 18.21 in the prior session, Computershare Ltd ran into sellers again around the same price level today, failing to move higher than 18.24.
The trend is clearly bullish, showing an intact uptrend in the short, medium and long-term.