GOZ.AX runs into sellers again around 3.71


Growthpoint Property Unit/ Stapled Securities (GOZ.AX) Technical Analysis Report for Jul 13, 2018 [1 min read]
Highlights
GOZ.AX breaks below 20-day moving average
GOZ.AX ends the day on a bearish note closing near the low of the day
GOZ.AX runs into sellers again around 3.71
GOZ.AX closes within previous day's range
TQ Sentiment
Report Sentiment: 66% Bearish
Technical Forecast:
Overview

GOZ.AX ended the week -0.82% lower at 3.65 after losing A$0.04 (-1.08%) today. Closing within the previous day's range, prices failed to decisively move past the prior day's trading range. Ending with a weak close near the low of the day sets a bearish note for the next session.

Daily chart for GOZ.AX
Volatility

Friday's trading range was A$0.06 (1.63%), that's slightly above last trading month's daily average range of A$0.05. Things look different on a weekly scale, where volatility is below the markets average with the monthly volatility being slightly below average.

Price Action

Despite a strong opening the stock closed below the previous day's open and close, forming a bearish Engulfing Candle.

Support/Resistance

After having been unable to move above 3.71 in the prior session, Growthpoint Property ran into sellers again around the same price level today, failing to move higher than 3.71.

Trend

The trend is clearly bullish, showing an intact uptrend in the short, medium and long-term. The market broke below the 20-day moving average at 3.65 today for the first time since July 11th.

Order Flow

Selling might speed up should prices move below the close-by swing low at 3.62 where further sell stops could get triggered. With prices trading close to this year's high at 3.73, upside momentum might accelerate should the share be able to break out to new highs for the year.

Conclusion

While classical technical analysis indicates a bearish sentiment for the next trading day, our quantitative statistics show a different picture being slightly bullish.

Market Conditions for Growthpoint Property Unit/ Stapled Securities
ConditionForecastDirectionWinAvgWorstBestEvents
Black Candle TQ Pro Members Only
Close to S1 Support TQ Pro Members Only
Closed below last periods low TQ Pro Members Only
RSI(2) below 20 TQ Pro Members Only
Bounced off Technical Support S1 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 Growthpoint Property Unit/ Stapled Securities traded like this in the past. See the odds for each technical pattern with expected gain and loss.

Signup

Stocks Top Movers

NATGAS 2.7350.037 1.37%
BTCUSD 7,472.6486.80 1.18%
TBOND 145.4060.594 0.41%
ASX 6,262.7017.60 0.28%
DXY 94.9450.135 0.14%
NKY 22,764.68-29.51 -0.13%
USDJPY 112.47-0.37 -0.33%
HSI 28,010.86-106.56 -0.38%
GOLD 1,222.5-4.8 -0.39%
SPX 2,804.49-11.13 -0.40%
Start your day with the facts moving the markets
By clicking "Subscribe", you agree to our terms and privacy policy.

Related Stocks

ABBV 10 day candlestick chart for ABBV89.95 -4.45
-4.71%
ACN 10 day candlestick chart for ACN166.89 0.51
0.31%
ADBE 10 day candlestick chart for ADBE257.68 -2.10
-0.81%
AAP 10 day candlestick chart for AAP143.37 3.40
2.43%
AES 10 day candlestick chart for AES13.03 0.30
2.36%
AET 10 day candlestick chart for AET190.04 -1.29
-0.67%
AFL 10 day candlestick chart for AFL42.89 -0.37
-0.86%
AMG 10 day candlestick chart for AMG149.31 -1.94
-1.28%
A 10 day candlestick chart for A64.15 1.16
1.84%
ABT 10 day candlestick chart for ABT63.78 -0.97
-1.50%