LNK.AX finds support at 20-day moving average
LNK.AX finished Thursday at 7.12 losing A$0.08 (-1.11%) on low volume. Closing below Wednesday's low at 7.15, the share confirms its breakout through the prior session's low having traded A$0.14 below it intraday. Ending the day with an indecisive close, neither buyers nor sellers were able to gain control during the session.
Thursday's trading range was A$0.18 (2.51%), that's above last trading month's daily average range of A$0.14. Weekly volatility is also higher, being slightly above the markets average with the monthly volatility being way below average.
After trading as low as 7.01 during the day, Link Admin found support at the 20-day moving average at 7.02.
Although the stock is experiencing a short-term up trend, this might just be a correction, as both the medium and long term trends are still in negative territory.
Buying could speed up should prices move above the close-by swing high at 7.31 where further buy stops might get triggered.
While classical technical analysis indicates a neutral sentiment for the next trading day, our quantitative statistics show a different picture being very bearish.
Market Conditions for Link Admin HLDG
|Close to R1 Resistance||TQ Pro Members Only|
|Close to Swing High||TQ Pro Members Only|
|Closed above last periods high||TQ Pro Members Only|
|2 Consecutive Higher Closes||TQ Pro Members Only|
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