GOZ.AX finds buyers around 3.53 for the third day in a row


Growthpoint Property Unit/ Stapled Securities (GOZ.AX) Technical Analysis Report for Jun 14, 2018 [< 1 min read]
Highlights
GOZ.AX finds buyers around 3.53 for the third day in a row
GOZ.AX closes within previous day's range
TQ Sentiment
Technical Forecast:
Overview

GOZ.AX ended Thursday at 3.55 flat. Closing within the previous day's range, prices failed to decisively move beyond the prior day's trading range.

Daily chart for GOZ.AX
Volatility

Thursday's trading range was A$0.04 (1.13%), that's slightly below last trading month's daily average range of A$0.05. Things look different on a weekly scale, where volatility is slightly below the markets average with the monthly volatility being above average.

Price Action

Regardless of a weak opening the share managed to close above the previous day's open and close, forming a bullish Engulfing Candle.

Support/Resistance

Prices are trading close to a key support level at 3.52. The stock found buyers again today around 3.53 for the third trading day in a row after having found demand at 3.54 in the prior session and at 3.53 two days ago.

Trend

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

Order Flow

Selling might accelerate should prices move below the nearby swing low at 3.53 where further sell stops could get triggered. As prices are trading close to June's low at 3.52, downside momentum might speed up should Growthpoint Property mark new lows for the month.

Conclusion

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.

Market Conditions for Growthpoint Property Unit/ Stapled Securities
ConditionForecastDirectionWinAvgWorstBest
Close to R1 Resistance TQ Pro Members Only
White Candle TQ Pro Members Only
Close to Swing High TQ Pro Members Only
Closed above last periods high TQ Pro Members Only
2 Consecutive Higher Closes TQ Pro Members Only
More market conditions identified for TQ Pro members...
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