ORA.AX slides to lowest close since July 5th
Orora Limited (ORA.AX) Technical Analysis Report for Jul 13, 2018 | by Techniquant Editorial Team
ORA.AX finished the week -1.38% lower at 3.58 after tanking A$0.10 (-2.72%) today on high volume. This is the biggest single day loss in over four months. Today's closing price of 3.58 marks the lowest close since July 5th. Trading up to A$0.07 lower after the open, Orora Limited managed to reverse during the session as bulls took control ending the day above its opening price. Closing below Thursday's low at 3.62, the market confirms its breakout through the prior session's low having traded A$0.13 below it intraday. Ending the day with an indecisive close, neither buyers nor sellers were able to gain control during the session.
Daily Candlestick Chart (ORA.AX as at Jul 13, 2018):
Friday's trading range was A$0.11 (3.09%), that's far above last trading month's daily average range of A$0.06. Weekly volatility is also higher, being way above the markets average with the monthly volatility being slightly below average.
After trading as low as 3.49 during the day, the share bounced off the key support level at 3.52. The failure to close below the support might increase that levels importance as support going forward. Prices are trading close to the key resistance level at 3.61.
The trend is clearly bullish, showing an intact uptrend in the short, medium and long-term.