NXT.AX finds buyers again around 5.94
NEXTDC Limited (NXT.AX) Technical Analysis Report for Sep 14, 2018
NXT.AX ended the week 3.02% higher at 6.15 after gaining A$0.20 (3.36%) today. The bulls were in full control today, moving the market higher throughout the whole session. Closing above Thursday's high at 6.09, the market confirms its breakout through the previous session's high having traded A$0.08 above it intraday. Ending with a strong close near the high of the day sets a bullish note for the next session.
Friday's trading range was A$0.23 (3.85%), that's slightly below last trading month's daily average range of A$0.27. Things look different on a weekly scale, where volatility is way below the markets average with the monthly volatility being way above average.
Prices are trading close to the key resistance level at 6.30. After having been unable to move lower than 5.92 in the prior session, the share found buyers again around the same price level today at 5.94.
The trend is clearly bearish, showing an intact downtrend in the short, medium and long-term.
Buying could accelerate should prices move above the nearby swing high at 6.30 where further buy stops might get activated. Selling could speed up should prices move below the close-by swing low at 5.92 where further sell stops might get triggered.
While classical technical analysis indicates a slightly bullish sentiment for the next trading day, our quantitative statistics show a different picture being slightly bearish.
Market Conditions for NEXTDC Limited
Top Market Movers