APRIL SALE: Save over 60% on our Pro Plans!

GMG.AX closes higher for the 2nd day in a row

Technical Analysis Report for GMG.AX - Apr 17, 2018 [1 min read]
GMG.AX pushes through key resistance level
GMG.AX closes above its opening price after recovering from early selling pressure
GMG.AX closes higher for the 2nd day in a row
GMG.AX ends the day on a bullish note closing near the high of the day
GMG.AX finds buyers again around 8.48
TQ Sentiment
Technical Forecast:

Moving higher for the 2nd day in a row, GMG.AX ended Tuesday at 8.58 gaining A$0.05 (0.59%). Trading up to A$0.05 lower after the open, Goodman Group managed to reverse during the session as bulls took control ending the day above its opening price. Closing within the prior day's range, prices failed to decisively move beyond the previous day's trading range. Ending with a strong close near the high of the day sets a bullish note for the next session.

Daily chart for GMG.AX

Tuesday's trading range was A$0.11 (1.29%), that's slightly below last trading month's daily average range of A$0.11. Things look different on a weekly scale, where volatility is below the markets average with the monthly volatility being slightly above average.


Breaking through the key resistance level at 8.54 today, it is now likely to act as support going forward. After having been unable to move lower than 8.49 in the prior session, the market found buyers again around the same price level today at 8.48.


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

Order Flow

Buying might speed up should prices move above the nearby swing high at 8.64 where further buy stops could get activated. 2,017's high at 8.79 is within reach and we might see further upside momentum should the share manage to break out past.


Even though both sentiments are bullish for the next trading day, the classical technical analysis metrics are only slightly bullish while our quantitative statistics show a bullish sentiment.

Report Market Conditions
Price broke through Technical Resistance R1 TQ Pro Members Only
Low close to previous low TQ Pro Members Only
2 Consecutive Higher Closes TQ Pro Members Only
Bullish Intraday Reversal TQ Pro Members Only
Close to Swing High TQ Pro Members Only
More market conditions identified for TQ Pro members...
Learn more about TQ Pro
Trending Assets

Upgrade your trading!

Get the stats behind the charts

Find out what happened when Goodman Group Limited traded like this in the past. See the odds for each technical pattern with expected gain and loss.


Stocks Top Movers

DAX 12,500.4778.17 0.63%
FTSE 7,421.4342.13 0.57%
USDJPY 109.430.61 0.56%
NKY 22,319.61104.29 0.47%
DXY 90.9550.415 0.46%
GBPUSD 1.3932-0.0045 -0.32%
TBOND 141.750-0.594 -0.42%
GOLD 1,324.4-7.8 -0.59%
EURUSD 1.2161-0.0072 -0.59%
HSI 30,007.68-628.56 -2.05%
Start your day with the facts moving the markets
By clicking "Subscribe", you agree to our terms and privacy policy.