GTY.AX pops to highest close since December 29, 2017
Gateway Lifestyle Stapled Securities (GTY.AX) Technical Analysis Report for Jun 14, 2018
Moving higher for the 3rd day in a row, GTY.AX finished Thursday at 2.15 gaining A$0.05 (2.38%) on high volume. Today's closing price of 2.15 marks the highest close since December 29, 2017. Trading up to A$0.02 lower after the open, the share managed to reverse during the session as bulls took control ending the day above its opening price. Closing above Wednesday's high at 2.13, the stock confirms its breakout through the previous session's high having traded A$0.02 above it intraday. Ending with a strong close near the high of the day sets a bullish note for the next session.
Daily Candlestick Chart (GTY.AX as at Jun 14, 2018):
Thursday's trading range was A$0.03 (1.4%), that's slightly below last trading month's daily average range of A$0.04. Things look different on a weekly scale, where volatility is way above the markets average with the monthly volatility being way above average.
The trend is clearly bullish, showing an intact uptrend in the short, medium and long-term.
With prices trading close to this year's high at 2.16, upside momentum might speed up should Gateway Lifestyle be able to break out to new highs for the year.