CPU.AX finds buyers at key support level

Computershare Ltd (CPU.AX) Technical Analysis Report for May 17, 2018

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

Loading Market Conditions for $CPU.AX (Computershare Ltd)...
Trending Assets

Upgrade your trading!

Get the stats behind the charts

Find out what happened when Computershare Ltd traded like this in the past. See the odds for each technical pattern with expected gain and loss.

Find out more
Top Market Movers

Related Stocks

ALL.AX 10 day candlestick chart for ALL.AX 28.28 -0.09 (-0.32%)
ALU.AX 10 day candlestick chart for ALU.AX 26.40 0.51 (1.97%)
BRG.AX 10 day candlestick chart for BRG.AX 12.66 0.00 (0.00%)
CAR.AX 10 day candlestick chart for CAR.AX 14.78 0.19 (1.30%)
DHG.AX 10 day candlestick chart for DHG.AX 3.53 0.08 (2.32%)
IRE.AX 10 day candlestick chart for IRE.AX 12.65 0.25 (2.02%)
MYO.AX 10 day candlestick chart for MYO.AX 2.94 -0.03 (-1.01%)
NXT.AX 10 day candlestick chart for NXT.AX 6.36 0.10 (1.60%)
REA.AX 10 day candlestick chart for REA.AX 86.06 1.88 (2.23%)
SEK.AX 10 day candlestick chart for SEK.AX 20.47 0.00 (0.00%)
You have free reports remaining. Subscribe for unlimited access...SUBSCRIBELOGINGO!