ECX.AX closes within previous day's range
ECX.AX finished the week -37.7% lower at 1.90 after flat today. Closing within the previous day's range, prices failed to decisively move past the prior day's trading range. 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 (4.74%), that's slightly above last trading month's daily average range of A$0.08. Weekly volatility is also higher, being way above the markets average with the monthly volatility being way above average. Prices continued to consolidate within a tight trading range between 1.85 and 2.05 which it has been in now for the last three days.
The market found buyers again today around 1.85 for the third trading day in a row after having found demand at 1.86 in the previous session and at 1.87 two days ago.
The trend is clearly bearish, showing an intact downtrend 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 slightly bearish.
Market Conditions for Eclipx Group Limited
|2 Consecutive Lower Closes||TQ Pro Members Only|
|Low close to previous low||TQ Pro Members Only|
|Close to Swing High||TQ Pro Members Only|
|High close to previous two Highs||TQ Pro Members Only|
|Tweezer Bottom||TQ Pro Members Only|
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