NUF.AX finds buyers around 8.82 for the third day in a row


Nufarm Limited (NUF.AX) Technical Analysis Report for Jun 14, 2018 [< 1 min read]
Highlights
NUF.AX finds buyers around 8.82 for the third day in a row
NUF.AX closes within previous day's range after lackluster session
NUF.AX ends the day indecisive
TQ Sentiment
Report Sentiment: 0% Neutral
Technical Forecast:
Overview

NUF.AX finished Thursday at 8.90 flat. Closing within the prior day's range, prices failed to decisively move beyond the previous 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 NUF.AX
Volatility

Thursday's trading range was A$0.14 (1.58%), that's far below last trading month's daily average range of A$0.19. Things look different on a weekly scale, where volatility is way above the markets average with the monthly volatility being slightly below average.

Support/Resistance

Prices are trading close to the key resistance level at 9.02. The share found buyers again today around 8.82 for the third trading day in a row after having found demand at 8.85 in the prior session and at 8.85 two days ago.

Trend

Although Nufarm Limited is currently in a short-term down trend, this might just be a correction, as the medium and long term trends are both positive.

Order Flow

Further selling could move prices lower should the market test May's nearby low at 8.65.

Conclusion

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

Market Conditions for Nufarm Limited
Condition Forecast Direction Win Avg Worst Best Events
Down Close Near Low of Period TQ Pro Members Only
Bearish Outside Bar TQ Pro Members Only
Close to S1 Support TQ Pro Members Only
Low close to previous low TQ Pro Members Only
Black Candle TQ Pro Members Only
More market conditions identified for TQ Pro members...
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