CWN.AX surges 1.11% closing A$0.15 higher

Crown Resorts Limited (CWN.AX) Technical Analysis Report for Jul 13, 2018 | by Techniquant Editorial Team


CWN.AX rallies 1.11% closing A$0.15 higher
CWN.AX pushes through key resistance level
CWN.AX pushes through 20-day moving average
CWN.AX finds buyers again around 13.46
CWN.AX pushes through previous session high


CWN.AX ended the week 1.11% higher at 13.65 after surging A$0.15 (1.11%) today. This is the biggest single day gain in over four weeks. Today's closing price of 13.65 marks the highest close since June 28th. Closing above Thursday's high at 13.58, Crown Resorts confirms its breakout through the prior session's high having traded A$0.16 above it intraday.

Daily Candlestick Chart (CWN.AX as at Jul 13, 2018):

Daily technical analysis candlestick chart for Crown Resorts Limited (CWN.AX) as at Jul 13, 2018

Friday's trading range was A$0.28 (2.08%), that's far above last trading month's daily average range of A$0.20. Things look different on a weekly scale, where volatility is below the markets average with the monthly volatility being slightly below average.

In a volatile session, prices traded above the previous day's high as well as below the prior day's low, forming a bullish Outside Bar.

Breaking through the key resistance level at 13.60 today, it is now likely to act as support going forward. After having been unable to move lower than 13.48 in the previous session, the market found buyers again around the same price level today at 13.46.

The trend is clearly bullish, showing an intact uptrend in the short, medium and long-term. The share managed to break above the 20-day moving average at 13.56 today for the first time since June 15th.

With prices trading close to this year's high at 13.88, upside momentum might speed up should the stock be able to break out to new highs for the year. Further buying could move prices higher should the market test June's nearby high at 13.86.

Market Conditions for CWN.AX as at Jul 13, 2018

Loading Market Conditions for CWN.AX (Crown Resorts Limited)...
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