GTY.AX ends the day indecisive

Gateway Lifestyle Stapled Securities (GTY.AX) Technical Analysis Report for Jul 13, 2018

Highlights

GTY.AX finds buyers again around 2.30
GTY.AX ends the day indecisive

TQ Sentiment

Report Sentiment:
50% Bullish
Technical Forecast:
TQ Pro Only
See the overall Technical Analysis forecast for today.

Overview

GTY.AX finished the week -1.71% lower at 2.30 after flat today. Ending the day with an indecisive close, neither buyers nor sellers were able to gain control during the session.

Daily chart for GTY.AX

Volatility

Friday's trading range was A$0.01 (0.43%), that's far below last trading month's daily average range of A$0.03. Things look different on a weekly scale, where volatility is below the markets average with the monthly volatility being way below average.

Price Action

In spite of a weak opening Gateway Lifestyle managed to close above the prior day's open and close, forming a bullish Engulfing Candle.

Support/Resistance

After having been unable to move lower than 2.30 in the previous session, the stock found buyers again around the same price level today at 2.30.

Trend

Although the market is currently in a short-term down trend, this could just be a correction, as the medium and long term trends are both positive.

Order Flow

Selling might accelerate should prices move below the close-by swing low at 2.29 where further sell 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 slightly bullish.

Market Conditions for Gateway Lifestyle Stapled Securities

Loading Market Conditions for $GTY.AX (Gateway Lifestyle Stapled Securities)...
Trending Assets

Upgrade your trading!

Get the stats behind the charts

Find out what happened when Gateway Lifestyle Stapled Securities traded like this in the past. See the odds for each technical pattern with expected gain and loss.

Find out more
Top Market Movers
You have free reports remaining. Subscribe for unlimited access...SUBSCRIBELOGINGO!