NCM.AX pushes through key resistance level


Newcrest Mining Ltd (NCM.AX) Technical Analysis Report for Jun 14, 2018 [< 1 min read]
Highlights
NCM.AX pushes through key resistance level
NCM.AX pushes through previous session high
TQ Sentiment
Report Sentiment: 100% Bullish
Technical Forecast:
Overview

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 chart for NCM.AX
Volatility

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.

Support/Resistance

Breaking through the key resistance level at 20.37 today, it is now likely to act as support going forward.

Trend

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

Conclusion

While classical technical analysis indicates a very bullish sentiment for the next trading day, our quantitative statistics show a different picture being very bearish.

Market Conditions for Newcrest Mining Ltd
Condition Forecast Direction Win Avg Worst Best Events
Bearish Break through SMA 50 TQ Pro Members Only
Close to R1 Resistance TQ Pro Members Only
Bearish Break through SMA 100 TQ Pro Members Only
Close to S1 Support TQ Pro Members Only
Bounced off Technical Support S1 TQ Pro Members Only
More market conditions identified for TQ Pro members...
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