FXJ.AX closes within previous day's range


Fairfax Media Limited (FXJ.AX) Technical Analysis Report for Jun 14, 2018 [< 1 min read]
Highlights
Traders officially love to buy FXJ.AX around 0.72 level
FXJ.AX finds support at 20-day moving average
FXJ.AX stuck within tight trading range
FXJ.AX closes within previous day's range
TQ Sentiment
Technical Forecast:
Overview

FXJ.AX finished Thursday at 0.73 losing A$0.01 (-1.35%). Closing within the previous day's range, prices failed to decisively move beyond the prior day's trading range.

Daily chart for FXJ.AX
Volatility

Thursday's trading range was A$0.02 (2.7%), that's slightly above last trading month's daily average range of A$0.02. Things look different on a weekly scale, where volatility is below the markets average with the monthly volatility being slightly below average. Prices continued to consolidate within a tight trading range between 0.72 and 0.74 which it has been in now for the last three days.

Support/Resistance

The share was bought again around 0.72 after having seen lows at 0.72, 0.72 and 0.72 in the last three trading sessions. Obviously there is something going on at that level. After trading as low as 0.72 during the day, Fairfax Media found support at the 20-day moving average at 0.73.

Trend

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

Conclusion

Both sentiments, the classical technical analysis and our quantitative statistics are in perfect alignment today showing a neutral sentiment for the next trading day.

Market Conditions for Fairfax Media Limited
ConditionForecastDirectionWinAvgWorstBestEvents
Strong Up Move TQ Pro Members Only
Very Strong Up Move TQ Pro Members Only
Close to Swing High TQ Pro Members Only
Bullish Break through SMA 20 TQ Pro Members Only
High close to previous High TQ Pro Members Only
More market conditions identified for TQ Pro members...
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Latest Report:

FXJ.AX soars 2.82% on high volume

Jun 21, 2018
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