GWA.AX finds buyers around 2.91 for the third day in a row
GWA Group Limited (GWA.AX) Technical Analysis Report for Sep 14, 2018 | by Techniquant Editorial Team
GWA.AX finished the week -2.63% lower at 2.96 after gaining A$0.03 (1.02%) today on low volume. Closing above Thursday's high at 2.95, the stock confirms its breakout through the prior session's high having traded A$0.04 above it intraday.
Daily Candlestick Chart (GWA.AX as at Sep 14, 2018):
Friday's trading range was A$0.08 (2.75%), that's slightly below last trading month's daily average range of A$0.09. Things look different on a weekly scale, where volatility is way below the markets average with the monthly volatility being below average. Prices continued to consolidate within a tight trading range between 2.91 and 2.99 which it has been in now for the last three days.
Despite a weak opening the market managed to close above the previous day's open and close, forming a bullish Engulfing Candle.
GWA Group found buyers again today around 2.91 for the third trading day in a row after having found demand at 2.91 in the prior session and at 2.92 two days ago.
The trend is clearly bearish, showing an intact downtrend in the short, medium and long-term.