GMA.AX pops to highest close since October 11th
Genworth Mortgage (GMA.AX) Technical Analysis Report for Nov 09, 2018 | by Techniquant Editorial Team
Moving higher for the 2nd day in a row, GMA.AX finished the week 2.2% higher at 2.32 after gaining $0.05 (2.2%) today on low volume, notably outperforming the ASX 200 (-0.11%). Today's close at 2.32 marks the highest recorded closing price since October 11th.
Daily Candlestick Chart (GMA.AX as at Nov 09, 2018):
Friday's trading range has been $0.06 (2.62%), that's slightly above the last trading month's daily average range of $0.06. Weekly volatility is also higher, being slightly above the market's average weekly trading range. The longer-term, monthly volatility is currently strongly lower than usual for GMA.AX.
Though Genworth Mortgage is experiencing a short-term uptrend, this might just be a correction, as both the medium and long-term trends are still bearish.