HSO.AX dominated by bulls lifting the market higher throughout the day


Healthscope Limited (HSO.AX) Technical Analysis Report for Jun 14, 2018 [< 1 min read]
Highlights
HSO.AX dominated by bulls lifting the market higher throughout the day
HSO.AX ends the day on a bullish note closing near the high of the day
HSO.AX finds buyers again around 2.27
TQ Sentiment
Technical Forecast:
Overview

HSO.AX ended Thursday at 2.29 gaining A$0.01 (0.44%). The bulls were in full control today, moving the market higher throughout the whole session. Ending with a strong close near the high of the day sets a bullish note for the next session.

Daily chart for HSO.AX
Volatility

Thursday's trading range was A$0.02 (0.88%), that's far below last trading month's daily average range of A$0.04. Things look different on a weekly scale, where volatility is below the markets average with the monthly volatility being below average.

Price Action

Despite a weak opening Healthscope Limited 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 2.27 in the previous session, the share found buyers again around the same price level today at 2.27.

Trend

Though the stock 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 speed up should prices move below the nearby swing low at 2.26 where further sell stops could get activated.

Conclusion

While classical technical analysis indicates a bullish sentiment for the next trading day, our quantitative statistics show a different picture being slightly bearish.

Market Conditions for Healthscope Limited
ConditionForecastDirectionWinAvgWorstBestEvents
Down Close Near Low of Period TQ Pro Members Only
4 Consecutive Lower Closes TQ Pro Members Only
Closed below last periods low TQ Pro Members Only
Very Strong Down Move TQ Pro Members Only
Black Candle TQ Pro Members Only
More market conditions identified for TQ Pro members...
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