MTS.AX finds buyers again around 2.70

Metcash Limited (MTS.AX) Technical Analysis Report for Sep 14, 2018 | by Techniquant Editorial Team


MTS.AX finds buyers again around 2.70


MTS.AX finished the week 1.48% higher at 2.74 after gaining A$0.03 (1.11%) today.

Daily Candlestick Chart (MTS.AX as at Sep 14, 2018):

Daily technical analysis candlestick chart for Metcash Limited (MTS.AX) as at Sep 14, 2018

Friday's trading range was A$0.07 (2.58%), that's slightly 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 slightly below average.

Regardless of a weak opening the market managed to close above the previous day's open and close, forming a bullish Engulfing Candle.

After having been unable to move lower than 2.69 in the prior session, Metcash Limited found buyers again around the same price level today at 2.70.

The share shows weakness in the short-term (in accordance with its long-term downtrend) with only the medium-term trend being bullish.

Buying might accelerate should prices move above the close-by swing high at 2.80 where further buy stops could get triggered. Selling might speed up should prices move below the nearby swing low at 2.68 where further sell stops could get activated.

Market Conditions for MTS.AX as at Sep 14, 2018

Loading Market Conditions for MTS.AX (Metcash Limited)...
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