FXJ.AX closes within previous day's range
Fairfax Media Limited (FXJ.AX) Technical Analysis Report for Jun 14, 2018 | by Techniquant Editorial Team
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 Candlestick Chart (FXJ.AX as at Jun 14, 2018):
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.
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.
The trend is clearly bullish, showing an intact uptrend in the short, medium and long-term.