GNC.AX closes below its opening price unable to hold early session gains

Graincorp Limited Class A (GNC.AX) Technical Analysis Report for Jul 13, 2018 | by Techniquant Editorial Team


GNC.AX closes below its opening price unable to hold early session gains
GNC.AX ends the day on a bearish note closing near the low of the day
GNC.AX still stuck within tight trading range
GNC.AX closes within previous day's range after lackluster session


GNC.AX ended the week -0.93% lower at 7.49 after losing A$0.02 (-0.27%) today. Trading A$0.04 higher after the open, the share was unable to hold its gains as the bears took control ending the day below its opening price. Closing within the previous day's range, prices failed to decisively move beyond the prior day's trading range in a lackluster session. Ending with a weak close near the low of the day sets a bearish note for the next session.

Daily Candlestick Chart (GNC.AX as at Jul 13, 2018):

Daily technical analysis candlestick chart for Graincorp Limited Class A (GNC.AX) as at Jul 13, 2018

Friday's trading range was A$0.08 (1.06%), that's far below last trading month's daily average range of A$0.15. Things look different on a weekly scale, where volatility is way below the markets average with the monthly volatility being slightly above average. Prices continued to consolidate within a tight trading range between 7.45 and 7.58 which it has been in now for the last trading week.

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

Buying might accelerate should prices move above the close-by swing high at 7.58 where further buy stops could get activated.

Market Conditions for GNC.AX as at Jul 13, 2018

Loading Market Conditions for GNC.AX (Graincorp Limited Class A)...
Latest Report:

GNC.AX finds buyers at key support level

Mar 20, 2019
Trending Assets

Upgrade your trading!

Get the stats behind the charts

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

Find out more
Top Movers
You have free reports remaining. Subscribe for unlimited access...SUBSCRIBELOGINGO!