GPT.AX ends the day indecisive
GPT Group (GPT.AX) Technical Analysis Report for Jul 13, 2018
GPT.AX ended the week 1.17% higher at 5.20 after flat today. Ending the day with an indecisive close, neither buyers nor sellers were able to gain control during the session.
Friday's trading range was A$0.04 (0.77%), that's far below last trading month's daily average range of A$0.08. Things look different on a weekly scale, where volatility is slightly above the markets average with the monthly volatility being slightly below average.
Prices are trading close to the key resistance level at 5.24.
The trend is clearly bullish, showing an intact uptrend in the short, medium and long-term.
Buying might speed up should prices move above the close-by swing high at 5.26 where further buy stops could get triggered. With prices trading close to this year's high at 5.30, upside momentum might accelerate should GPT Group be able to break out to new highs for the year.
While classical technical analysis indicates a neutral sentiment for the next trading day, our quantitative statistics show a different picture being slightly bullish.