CPU.AX finds buyers at key support level


Computershare Ltd (CPU.AX) Technical Analysis Report for May 17, 2018 [< 1 min read]
Highlights
CPU.AX finds buyers at key support level
CPU.AX closes within previous day's range
TQ Sentiment
Report Sentiment: 25% Bullish
Technical Forecast:
Overview

CPU.AX ended Thursday at 18.22 losing A$0.10 (-0.55%). Closing within the previous day's range, prices failed to decisively move beyond the prior day's trading range.

Daily chart for CPU.AX
Volatility

Thursday's trading range was A$0.31 (1.69%), that's above last trading month's daily average range of A$0.26. Weekly volatility is also higher, being above the markets average with the monthly volatility being way above average.

Price Action

During the whole day, prices traded within the previous day's range, unable to trade above the prior day's high or below the previous day's low forming an Inside Bar.

Support/Resistance

After trading as low as 18.07 during the day, the stock bounced off the key support level at 18.09. The failure to close below the support could increase that levels importance as support going forward.

Trend

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

Order Flow

Buying might accelerate should prices move above the nearby swing high at 18.48 where further buy stops could get activated.

Conclusion

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

Market Conditions for Computershare Ltd
ConditionForecastDirectionWinAvgWorstBestEvents
Close near low of period TQ Pro Members Only
Bearish Outside Bar TQ Pro Members Only
Bearish Intraday Reversal TQ Pro Members Only
High close to previous High TQ Pro Members Only
Down Close Near Low of Period TQ Pro Members Only
More market conditions identified for TQ Pro members...
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