GXY.AX closes within prior day's range after lackluster session

Galaxy Resources (GXY.AX) Technical Analysis Report for Jul 13, 2018

Highlights

GXY.AX runs into sellers again around 3.31
GXY.AX closes within previous day's range after lackluster session

TQ Sentiment

Report Sentiment: 33% Bearish
Technical Forecast:

Overview

GXY.AX finished the week 5.13% higher at 3.28 after edging lower A$0.01 (-0.3%) today on low volume. Closing within the prior day's range, prices failed to decisively move past the previous day's trading range in a lackluster session.

Daily chart for GXY.AX

Volatility

Friday's trading range was A$0.08 (2.46%), that's below last trading month's daily average range of A$0.10. Things look different on a weekly scale, where volatility is slightly below the markets average with the monthly volatility being below average.

Price Action

During the whole day, prices traded within the prior day's range, unable to trade above the previous day's high or below the prior day's low forming an Inside Bar.

Support/Resistance

Prices are trading close to the key resistance level at 3.33. After having been unable to move above 3.32 in the previous session, the share ran into sellers again around the same price level today, failing to move higher than 3.31.

Trend

Though still in a long-term downtrend, the short and medium-term trends both turned bullish already.

Order Flow

Buying might accelerate should prices move above the nearby swing high at 3.32 where further buy stops could get triggered. Selling might speed up should prices move below the close-by swing low at 3.18 where further sell stops could get activated.

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 Galaxy Resources

Loading Market Conditions for $GXY.AX (Galaxy Resources)...
Trending Assets

Upgrade your trading!

Get the stats behind the charts

Find out what happened when Galaxy Resources traded like this in the past. See the odds for each technical pattern with expected gain and loss.

Find out more
Top Market Movers

Related Stocks

ABC.AX 10 day candlestick chart for ABC.AX 6.24 0.12 (1.96%)
ASL.AX 10 day candlestick chart for ASL.AX 1.72 -0.02 (-1.15%)
AWC.AX 10 day candlestick chart for AWC.AX 2.73 0.03 (1.11%)
BHP.AX 10 day candlestick chart for BHP.AX 33.58 0.81 (2.47%)
BKW.AX 10 day candlestick chart for BKW.AX 16.18 0.01 (0.06%)
BLD.AX 10 day candlestick chart for BLD.AX 6.86 0.06 (0.88%)
BSL.AX 10 day candlestick chart for BSL.AX 16.36 -0.38 (-2.27%)
CSR.AX 10 day candlestick chart for CSR.AX 3.86 -0.01 (-0.26%)
DLX.AX 10 day candlestick chart for DLX.AX 7.59 -0.11 (-1.43%)
EVN.AX 10 day candlestick chart for EVN.AX 2.86 0.01 (0.35%)
You have free reports remaining. Subscribe for unlimited access...SUBSCRIBELOGINGO!