GPT.AX closes within previous day's range after lackluster session


GPT Group (GPT.AX) Technical Analysis Report for Aug 10, 2018 [< 1 min read]
Highlights
GPT.AX closes within previous day's range after lackluster session
GPT.AX ends the day indecisive
TQ Sentiment
Report Sentiment: 0% Neutral
Technical Forecast:
Overview

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.

Daily chart for GPT.AX
Volatility

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.

Trend

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

Order Flow

Buying might accelerate should prices move above the close-by swing high at 5.37 where further buy stops could get activated.

Conclusion

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
Condition Forecast Direction Win Avg Worst Best Events
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
More market conditions identified for TQ Pro members...
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