OML.AX closes within previous day's range after lackluster session
Ooh!Media Limited (OML.AX) Technical Analysis Report for Jul 13, 2018
OML.AX finished the week -0.63% lower at 4.72 after flat today. Closing within the previous day's range, prices failed to decisively move past the prior 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.
Friday's trading range was A$0.05 (1.06%), that's far below last trading month's daily average range of A$0.11. 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 a key support level at 4.67. After having been unable to move above 4.74 in the previous session, Ooh!Media Limited ran into sellers again around the same price level today, failing to move higher than 4.74.
Although still in a long-term uptrend, the short and medium-term trends both turned bearish already.
While classical technical analysis indicates a neutral sentiment for the next trading day, our quantitative statistics show a different picture being slightly bearish.