ORG.AX pushes through prior session high
ORG.AX finished the week -4.24% lower at 9.72 after surging A$0.29 (3.08%) today. This is the biggest single day gain in over a month. Closing above Thursday's high at 9.65, the share confirms its breakout through the prior session's high having traded A$0.16 above it intraday.
Friday's trading range was A$0.30 (3.13%), that's far above last trading month's daily average range of A$0.22. Weekly volatility is also higher, being way above the markets average with the monthly volatility being slightly above average.
After trading as low as 9.51 during the day, the stock bounced off the key support level at 9.55. 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 9.82. After spiking up to 9.81 during the day, the market found resistance at the 50-day moving average at 9.81.
While still in a long-term uptrend, the short and medium-term trends both turned bearish already. Origin Energy managed to break above the 100-day moving average at 9.44 today for the first time since April 13th.
Both sentiments, the classical technical analysis and our quantitative statistics are in perfect alignment today showing a bullish sentiment for the next trading day.
Market Conditions for Origin Energy Ltd
|Bullish Break through SMA 100||TQ Pro Members Only|
|Close to S1 Support||TQ Pro Members Only|
|Bullish Intraday Reversal||TQ Pro Members Only|
|Bounced off Technical Support S1||TQ Pro Members Only|
|Closed above last periods high||TQ Pro Members Only|
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