CYB.AX closes below its opening price unable to hold early session gains
CYBG Plc Cdi 1:1 Foreign Exempt Lse (CYB.AX) Technical Analysis Report for Jul 13, 2018
CYB.AX ended the week -4.35% lower at 5.94 after losing A$0.05 (-0.83%) today on low volume. Today's closing price of 5.94 marks the lowest close since July 3rd. Trading A$0.03 higher after the open, CYBG Plc was unable to hold its gains as the bears took control ending the day below its opening price. Closing within the previous day's range, prices failed to decisively move past the prior day's trading range in a lackluster session. Ending the day with an indecisive close, neither buyers nor sellers were able to gain control during the session.
Friday's trading range was A$0.09 (1.51%), that's below last trading month's daily average range of A$0.11. Things look different on a weekly scale, where volatility is below the markets average with the monthly volatility being slightly above average.
The trend is clearly bullish, showing an intact uptrend in the short, medium and long-term.
While classical technical analysis indicates a neutral sentiment for the next trading day, our quantitative statistics show a different picture being bullish.