GTY.AX finds buyers again around 2.24

Gateway Lifestyle Stapled Securities (GTY.AX) Technical Analysis Report for Sep 14, 2018

Highlights

GTY.AX finds buyers again around 2.24

TQ Sentiment

Report Sentiment: 0% Neutral
Technical Forecast:

Overview

GTY.AX ended the week unchanged at 2.24 after flat today.

Daily chart for GTY.AX

Volatility

Friday's trading range was A$0.00 (0.0%), that's far 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.

Price Action

Despite a strong opening the stock closed below the prior day's open and close, forming a bearish Engulfing Candle.

Support/Resistance

After having been unable to move lower than 2.24 in the previous session, the market found buyers again around the same price level today at 2.24.

Trend

The share shows strength in the short-term supported by its long-term uptrend with only the medium-term trend being bearish.

Order Flow

Further selling could move prices lower should the market test August's nearby low at 2.22.

Conclusion

Both sentiments, the classical technical analysis and our quantitative statistics are in perfect alignment today showing a neutral sentiment for the next trading day.

Market Conditions for Gateway Lifestyle Stapled Securities

Condition Forecast Direction Win Rate Exit Day Events
Close near low of period TQ Pro Members Only
High close to previous High TQ Pro Members Only
Low close to previous three Lows TQ Pro Members Only
Low close to previous two Lows TQ Pro Members Only
Low close to previous low TQ Pro Members Only
More market conditions identified for TQ Pro members...
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