DXS.AX pushes through prior session high
Dexus (DXS.AX) Technical Analysis Report for Jul 13, 2018
Moving higher for the 2nd day in a row, DXS.AX finished the week 0.5% higher at 10.03 after gaining A$0.14 (1.42%) today. Today's closing price of 10.03 marks the highest close since June 21st. Closing above Thursday's high at 9.95, the share confirms its breakout through the previous session's high having traded A$0.12 above it intraday.
Friday's trading range was A$0.17 (1.71%), that's slightly above last trading month's daily average range of A$0.16. Things look different on a weekly scale, where volatility is slightly below the markets average with the monthly volatility being slightly below average.
After trading as low as 9.90 during the day, Dexus bounced off the key support level at 9.92. The failure to close below the support might increase that levels importance as support going forward. Prices are trading close to the key resistance level at 10.08.
The trend is clearly bullish, showing an intact uptrend in the short, medium and long-term.
With prices trading close to this year's high at 10.25, upside momentum could speed up should the market be able to break out to new highs for the year. Further buying might move prices higher should the market test June's close-by high at 10.08.
While classical technical analysis indicates a neutral sentiment for the next trading day, our quantitative statistics show a different picture being slightly bullish.