GTY.AX finds buyers around 2.27 for the third day in a row


Gateway Lifestyle Stapled Securities (GTY.AX) Technical Analysis Report for Aug 10, 2018 [< 1 min read]
Highlights
GTY.AX finds buyers around 2.27 for the third day in a row
GTY.AX dominated by bears dragging the market lower throughout the day
TQ Sentiment
Report Sentiment: 0% Neutral
Technical Forecast:
Overview

GTY.AX ended the week unchanged at 2.27 after flat today. The bears were in full control today, moving the market lower throughout the whole session.

Daily chart for GTY.AX
Volatility

Friday's trading range was A$0.01 (0.44%), that's below last trading month's daily average range of A$0.02. Things look different on a weekly scale, where volatility is slightly below the markets average with the monthly volatility being slightly below average.

Support/Resistance

The stock found buyers again today around 2.27 for the third trading day in a row after having found demand at 2.27 in the prior session and at 2.27 two days ago.

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

Buying might accelerate should prices move above the nearby swing high at 2.29 where further buy stops could get activated. Selling might speed up should prices move below the close-by swing low at 2.26 where further sell stops could get triggered. Further selling might move prices lower should the market test July's nearby low at 2.25.

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
Condition Forecast Direction Win Avg Worst Best Events
Down Close Near Low of Period TQ Pro Members Only
Closed below last periods low TQ Pro Members Only
Black Candle TQ Pro Members Only
High close to previous High TQ Pro Members Only
Bearish Bounce off SMA 20 TQ Pro Members Only
More market conditions identified for TQ Pro members...
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