ECX.AX closes within previous day's range
Eclipx Group Limited (ECX.AX) Technical Analysis Report for Aug 10, 2018 | by Techniquant Editorial Team
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.
Daily Candlestick Chart (ECX.AX as at Aug 10, 2018):
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.