NCM.AX pushes through key resistance level
Newcrest Mining Ltd (NCM.AX) Technical Analysis Report for Jun 14, 2018 | by Techniquant Editorial Team
NCM.AX finished Thursday at 20.50 gaining A$0.20 (0.99%). Closing above Wednesday's high at 20.40, the stock confirms its breakout through the prior session's high having traded A$0.26 above it intraday.
Daily Candlestick Chart (NCM.AX as at Jun 14, 2018):
Thursday's trading range was A$0.35 (1.72%), that's slightly above last trading month's daily average range of A$0.33. Weekly volatility is also higher, being way above the markets average with the monthly volatility being slightly below average.
Breaking through the key resistance level at 20.37 today, it is now likely to act as support going forward.
Newcrest Mining shows weakness in the short-term (in accordance with its long-term downtrend) with only the medium-term trend being bullish.