ORG.AX pushes through prior session high


Origin Energy Ltd (ORG.AX) Technical Analysis Report for Jul 13, 2018 [< 1 min read]
Highlights
ORG.AX rallies 3.08% closing A$0.29 higher
ORG.AX pushes through 100-day moving average
ORG.AX finds buyers at key support level
ORG.AX fails to close above 50-day moving average
ORG.AX pushes through previous session high
TQ Sentiment
Report Sentiment: 66% Bullish
Technical Forecast:
Overview

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.

Daily chart for ORG.AX
Volatility

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.

Support/Resistance

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.

Trend

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.

Conclusion

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
ConditionForecastDirectionWinAvgWorstBestEvents
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
More market conditions identified for TQ Pro members...
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