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 | by Techniquant Editorial Team
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 Candlestick Chart (NUF.AX as at Jun 14, 2018):
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.
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.
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.
Further selling could move prices lower should the market test May's nearby low at 8.65.