NVT.AX finds buyers again around 4.24

Navitas Limited (NVT.AX) Technical Analysis Report for Sep 14, 2018

Highlights

NVT.AX ends the day on a bullish note closing near the high of the day
NVT.AX finds buyers again around 4.24
NVT.AX closes within previous day's range after lackluster session

TQ Sentiment

Report Sentiment: 50% Bullish
Technical Forecast:

Overview

NVT.AX ended the week -4.04% lower at 4.28 after gaining A$0.02 (0.47%) today. Closing within the prior day's range, prices failed to decisively move past the previous day's trading range in a lackluster session. Ending with a strong close near the high of the day sets a bullish note for the next session.

Daily chart for NVT.AX

Volatility

Friday's trading range was A$0.05 (1.18%), that's far below last trading month's daily average range of A$0.09. Things look different on a weekly scale, where volatility is slightly above the markets average with the monthly volatility being way below average.

Support/Resistance

Prices are trading close to the key resistance level at 4.31. After having been unable to move lower than 4.25 in the prior session, the market found buyers again around the same price level today at 4.24.

Trend

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

Conclusion

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

Market Conditions for Navitas Limited

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