NXT.AX closes within prior day's range


NEXTDC Limited (NXT.AX) Technical Analysis Report for Jun 14, 2018 [1 min read]
Highlights
NXT.AX pulls back from highs giving back most intraday gains
NXT.AX closes below its opening price unable to hold early session gains
NXT.AX unable to break through key resistance level
NXT.AX finds buyers again around 7.67
NXT.AX closes within previous day's range
TQ Sentiment
Technical Forecast:
Overview

NXT.AX finished Thursday at 7.73 edging higher A$0.01 (0.13%) on high volume. Trading A$0.18 higher after the open, the stock was unable to hold its gains as the bears took control ending the day below its opening price. Closing within the prior day's range, prices failed to decisively move past the previous day's trading range. Ending the day with an indecisive close, neither buyers nor sellers were able to gain control during the session.

Daily chart for NXT.AX
Volatility

Thursday's trading range was A$0.25 (3.23%), that's far above last trading month's daily average range of A$0.18. Weekly volatility is also higher, being slightly above the markets average with the monthly volatility being slightly below average.

Price Action

After spiking up to 7.92 during the day, the market has been sold off at those price levels and formed a bearish Pin Bar closing A$0.19 below today's high.

Support/Resistance

Unable to break through the key technical resistance level at 7.78, NEXTDC Limited closed below it after spiking as high as 7.92 during the day. The failure to close above the resistance might increase that levels importance as resistance going forward. After having been unable to move lower than 7.66 in the prior session, the share found buyers again around the same price level today at 7.67.

Trend

The trend is clearly bullish, showing an intact uptrend 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 NEXTDC Limited
ConditionForecastDirectionWinAvgWorstBestEvents
Strong Up Move TQ Pro Members Only
White Candle TQ Pro Members Only
Close to S1 Support TQ Pro Members Only
Close to Swing High TQ Pro Members Only
Closed above last periods high TQ Pro Members Only
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