GPT.AX closes within previous day's range after lackluster session
GPT.AX finished the week 1.14% higher at 5.33 after losing A$0.02 (-0.37%) today. Closing within the previous day's range, prices failed to decisively move past the prior day's trading range in a lackluster session. 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 (0.75%), that's far below last trading month's daily average range of A$0.06. Things look different on a weekly scale, where volatility is way below the markets average with the monthly volatility being above average.
The trend is clearly bullish, showing an intact uptrend in the short, medium and long-term.
Buying might accelerate should prices move above the close-by swing high at 5.37 where further buy stops could get activated.
While classical technical analysis indicates a neutral sentiment for the next trading day, our quantitative statistics show a different picture being bearish.
Market Conditions for GPT Group
|Bullish Engulfing Candle||TQ Pro Members Only|
|White Candle||TQ Pro Members Only|
|Close to S1 Support||TQ Pro Members Only|
|Price broke through Technical Resistance R1||TQ Pro Members Only|
|Bullish Break through SMA 20||TQ Pro Members Only|
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