ORA.AX finds buyers again around 3.37

Orora Limited (ORA.AX) Technical Analysis Report for Sep 14, 2018

Highlights

ORA.AX fails to close above 200-day moving average
ORA.AX finds buyers again around 3.37
ORA.AX closes within previous day's range after lackluster session
ORA.AX ends the day indecisive

TQ Sentiment

Report Sentiment: 40% Bearish
Technical Forecast:

Overview

ORA.AX finished the week -3.42% lower at 3.39 after flat today on low volume. 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.

Daily chart for ORA.AX

Volatility

Friday's trading range was A$0.04 (1.18%), that's below last trading month's daily average range of A$0.05. Things look different on a weekly scale, where volatility is slightly below the markets average with the monthly volatility being way below average.

Support/Resistance

Prices are trading close to the key resistance level at 3.44. After having been unable to move lower than 3.37 in the previous session, Orora Limited found buyers again around the same price level today at 3.37. After spiking up to 3.41 during the day, the stock found resistance at the 200-day moving average at 3.40.

Trend

While still in a long-term uptrend, the short and medium-term trends both turned bearish already.

Order Flow

Further selling could move prices lower should the market test August's nearby low at 3.36.

Conclusion

Both sentiments, the classical technical analysis and our quantitative statistics are in perfect alignment today showing a neutral sentiment for the next trading day.

Market Conditions for Orora Limited

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