NXT.AX closes higher for the 2nd day in a row


NEXTDC Limited (NXT.AX) Technical Analysis Report for Jul 13, 2018 | by Techniquant Editorial Team

Highlights

NXT.AX unable to break through key resistance level
NXT.AX closes higher for the 2nd day in a row
NXT.AX pushes through previous session high
NXT.AX ends the day indecisive

Overview

Moving higher for the 2nd day in a row, NXT.AX finished the week -0.41% lower at 7.28 after gaining A$0.10 (1.39%) today. Closing above Thursday's high at 7.24, the market confirms its breakout through the previous session's high having traded A$0.20 above it intraday. Ending the day with an indecisive close, neither buyers nor sellers were able to gain control during the session.

Daily Candlestick Chart (NXT.AX as at Jul 13, 2018):

Daily technical analysis candlestick chart for NEXTDC Limited (NXT.AX) as at Jul 13, 2018

Friday's trading range was A$0.18 (2.48%), that's slightly below last trading month's daily average range of A$0.20. Things look different on a weekly scale, where volatility is slightly above the markets average with the monthly volatility being way above average.

Unable to break through the key technical resistance level at 7.31, the stock closed below it after spiking as high as 7.44 during the day. The failure to close above the resistance might increase that levels importance as resistance going forward.

Though the share is currently in a short-term down trend, this could just be a correction, as the medium and long term trends are both positive.


Market Conditions for NXT.AX as at Jul 13, 2018

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NXT.AX stuck within tight trading range

Dec 14, 2018
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