ORE.AX breaks below previous session low
Orocobre Limited (ORE.AX) Technical Analysis Report for Aug 10, 2018 | by Techniquant Editorial Team
ORE.AX ended the week -0.46% lower at 4.35 after losing A$0.04 (-0.91%) today. Closing below Thursday's low at 4.38, the share confirms its breakout through the prior session's low having traded A$0.04 below it intraday. Ending with a weak close near the low of the day sets a bearish note for the next session.
Daily Candlestick Chart (ORE.AX as at Aug 10, 2018):
Friday's trading range was A$0.10 (2.27%), that's far below last trading month's daily average range of A$0.17. Things look different on a weekly scale, where volatility is way below the markets average with the monthly volatility being above average.
The trend is clearly bearish, showing an intact downtrend in the short, medium and long-term.
Buying could accelerate should prices move above the close-by swing high at 4.50 where further buy stops might get activated. Selling could speed up should prices move below the nearby swing low at 4.27 where further sell stops might get triggered.