EVN.AX dominated by bulls lifting the market higher throughout the day

Evolution Mining Limited (EVN.AX) Technical Analysis Report for Jun 14, 2018 | by Techniquant Editorial Team


EVN.AX rallies 3.23% closing A$0.11 higher
EVN.AX pushes through key resistance level
EVN.AX dominated by bulls lifting the market higher throughout the day
EVN.AX ends the day on a bullish note closing near the high of the day
EVN.AX pushes through previous session high


EVN.AX ended Thursday at 3.52 surging A$0.11 (3.23%). This is the biggest single day gain in over a week. Today's closing price of 3.52 marks the highest close since Inception. The bulls were in full control today, moving the market higher throughout the whole session. Closing above Wednesday's high at 3.48, the market confirms its breakout through the prior session's high having traded A$0.04 above it intraday. Ending with a strong close near the high of the day sets a bullish note for the next session.

Daily Candlestick Chart (EVN.AX as at Jun 14, 2018):

Daily technical analysis candlestick chart for Evolution Mining Limited (EVN.AX) as at Jun 14, 2018

Thursday's trading range was A$0.10 (2.92%), that's far above last trading month's daily average range of A$0.08. Things look different on a weekly scale, where volatility is below the markets average with the monthly volatility being above average.

Breaking through the key resistance level at 3.47 today, it is now likely to act as support going forward.

The trend is clearly bullish, showing an intact uptrend in the short, medium and long-term.

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