HVN.AX finds support at 50-day moving average


Harvey Norman (HVN.AX) Technical Analysis Report for Aug 10, 2018 | by Techniquant Editorial Team

Highlights

HVN.AX pushes through 50-day moving average
HVN.AX finds support at 50-day moving average
HVN.AX closes higher for the 2nd day in a row
HVN.AX pushes through previous session high
HVN.AX rises to highest close since August 2nd

Overview

Moving higher for the 2nd day in a row, HVN.AX finished the week 0.58% higher at 3.49 after gaining A$0.05 (1.45%) today on low volume. Today's closing price of 3.49 marks the highest close since August 2nd. Closing above Thursday's high at 3.47, Harvey Norman confirms its breakout through the prior session's high having traded A$0.04 above it intraday.

Daily Candlestick Chart (HVN.AX as at Aug 10, 2018):

Daily technical analysis candlestick chart for Harvey Norman (HVN.AX) as at Aug 10, 2018

Friday's trading range was A$0.05 (1.44%), that's below last trading month's daily average range of A$0.06. Things look different on a weekly scale, where volatility is slightly above the markets average with the monthly volatility being slightly above average.

Prices are trading close to a key support level at 3.44. After trading as low as 3.46 during the day, the share found support at the 50-day moving average at 3.47.

The trend is clearly bearish, showing an intact downtrend in the short, medium and long-term. The market managed to break above the 50-day moving average at 3.47 today for the first time since July 12th.


Market Conditions for HVN.AX as at Aug 10, 2018

Loading Market Conditions for HVN.AX (Harvey Norman)...
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HVN.AX finds buyers at key support level

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