GPT.AX finds buyers around 4.65 for the third day in a row


GPT Group (GPT.AX) Technical Analysis Report for Apr 17, 2018 | by Techniquant Editorial Team

Highlights

GPT.AX finds buyers around 4.65 for the third day in a row
GPT.AX closes below its opening price unable to hold early session gains
GPT.AX stuck within tight trading range
GPT.AX closes within previous day's range after lackluster session
GPT.AX ends the day indecisive

Overview

GPT.AX ended Tuesday at 4.67 edging higher A$0.01 (0.21%). Trading A$0.02 higher after the open, the market was unable to hold its gains as the bears took control ending the day below its opening price. Closing within the prior day's range, prices failed to decisively move beyond the previous 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 Candlestick Chart (GPT.AX as at Apr 17, 2018):

Daily technical analysis candlestick chart for GPT Group (GPT.AX) as at Apr 17, 2018

Tuesday's trading range was A$0.05 (1.07%), that's below last trading month's daily average range of A$0.06. Things look different on a weekly scale, where volatility is slightly below the markets average with the monthly volatility being slightly below average. Prices continued to consolidate within a tight trading range between 4.65 and 4.71 which it has been in now for the last three days.

Prices are trading close to the key resistance level at 4.71. GPT Group found buyers again today around 4.65 for the third trading day in a row after having found demand at 4.65 in the prior session and at 4.65 two days ago.

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

With prices trading close to this year's low at 4.59, downside momentum might speed up should the stock break out to new lows for the year.


Market Conditions for GPT.AX as at Apr 17, 2018

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GPT.AX closes within prior day's range

Oct 19, 2018
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