NST.AX finds buyers again around 8.13

Northern Star (NST.AX) Technical Analysis Report for Sep 14, 2018

Highlights

NST.AX closes above its opening price after recovering from early selling pressure
NST.AX closes higher for the 2nd day in a row
NST.AX finds buyers again around 8.13
NST.AX still stuck within tight trading range
NST.AX closes within previous day's range after lackluster session

TQ Sentiment

Report Sentiment: 22% Bullish
Technical Forecast:

Overview

Moving higher for the 2nd day in a row, NST.AX ended the week 0.49% higher at 8.22 after gaining A$0.04 (0.49%) today on low volume. Trading up to A$0.06 lower after the open, the stock managed to reverse during the session as bulls took control ending the day above its opening price. Closing within the previous day's range, prices failed to decisively move past the prior day's trading range in a lackluster session. Ending the day with an indecisive close, neither buyers nor sellers were able to gain control during the session.

Daily chart for NST.AX

Volatility

Friday's trading range was A$0.14 (1.71%), that's below last trading month's daily average range of A$0.22. Things look different on a weekly scale, where volatility is way below the markets average with the monthly volatility being way above average. Prices continued to consolidate within a tight trading range between 8.01 and 8.31 which it has been in now for the last trading week.

Support/Resistance

Prices are trading close to the key resistance level at 8.29. After having been unable to move lower than 8.13 in the previous session, Northern Star found buyers again around the same price level today at 8.13.

Trend

The trend is clearly bullish, showing an intact uptrend in the short, medium and long-term.

Order Flow

Buying might accelerate should prices move above the close-by swing high at 8.31 where further buy stops could get activated. Selling might speed up should prices move below the nearby swing low at 8.01 where further sell stops could get triggered.

Conclusion

Both sentiments, the classical technical analysis and our quantitative statistics are in perfect alignment today showing a neutral sentiment for the next trading day.

Market Conditions for Northern Star

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Latest Report:

NST.AX pushes through prior session high

Sep 19, 2018
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