NSR.AX dominated by bulls lifting the market higher throughout the day


National Storage Stapled Security FP (NSR.AX) Technical Analysis Report for Oct 12, 2018

Highlights

NSR.AX dominated by bulls lifting the market higher throughout the day
NSR.AX closes lower for the 2nd day in a row
NSR.AX falls to lowest close since June 20th

Overview

Moving lower for the 2nd day in a row, NSR.AX ended the week -2.41% lower at 1.62 after losing $0.01 (-0.61%) today, underperforming the market (ASX 200, 0.2%). Today's close at 1.62 marks the lowest recorded closing price since June 20th. The bulls were in full control today, moving the market higher throughout the whole session.

Daily Candlestick Chart (NSR.AX as at Oct 12, 2018):

Daily technical analysis candlestick chart for National Storage Stapled Security FP (NSR.AX) as at Oct 12, 2018

Friday's trading range was $0.02 (1.25%), that's below last trading month's daily average range of $0.03. Things look different on a weekly scale, where volatility is slightly below the markets average with the monthly volatility being way above average.

One bullish candlestick pattern matches today's price action, the White Candle.

Though still in a long-term uptrend, the short and medium-term trends both turned bearish already.

Selling might accelerate should prices move below the close-by swing low at 1.60 where further sell stops could get triggered.

Among the six market conditions that our engine recognized today, the statistics for the Price Action based condition "2 Consecutive Lower Closes" stands out. Although it is usually interpreted being bearish, it has actually shown to be bullish so far in the past for National Storage. Out of 93 times during the last ten years, NSR.AX closed higher 49.46% of the time on the next trading day. The optimal exit for swing trading this condition on the long side has been after 10 trading days, showing a win rate of 59.14% with an average market move of 1.12%.


Market Conditions for NSR.AX as at Oct 12, 2018

Loading Market Conditions for NSR.AX (National Storage Stapled Security FP)...
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