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

Healthscope Limited (HSO.AX) Technical Analysis Report for Jun 14, 2018 | by Techniquant Editorial Team


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


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 Candlestick Chart (HSO.AX as at Jun 14, 2018):

Daily technical analysis candlestick chart for Healthscope Limited (HSO.AX) as at Jun 14, 2018

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.

Despite a weak opening Healthscope Limited managed to close above the prior day's open and close, forming a bullish Engulfing Candle.

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.

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.

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

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