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ORG.AX unable to break through key resistance level

Technical Analysis Report for ORG.AX - Apr 17, 2018 [< 1 min read]
ORG.AX rallies 2.21% closing A$0.20 higher
ORG.AX unable to break through key resistance level
ORG.AX closes higher for the 5th day in a row
ORG.AX pushes through previous session high
ORG.AX rises to highest close since February 21st
TQ Sentiment
Technical Forecast:

Moving higher for the 5th day in a row, ORG.AX ended Tuesday at 9.23 surging A$0.20 (2.21%). This is the biggest single day gain in over four weeks. Today's closing price of 9.23 marks the highest close since February 21st. Closing above Saturday's high at 9.06, the stock confirms its breakout through the prior session's high having traded A$0.30 above it intraday. Ending the day with an indecisive close, neither buyers nor sellers were able to gain control during the session.

Daily chart for ORG.AX

Tuesday's trading range was A$0.25 (2.73%), that's far above last trading month's daily average range of A$0.18. Weekly volatility is also higher, being way above the markets average with the monthly volatility being slightly below average.


Prices are trading close to a key support level at 9.08. Unable to break through the key technical resistance level at 9.32, Origin Energy closed below it after spiking as high as 9.36 during the day. The failure to close above the resistance might increase that levels importance as resistance going forward.


The share shows strength in the short-term supported by its long-term uptrend with only the medium-term trend being bearish.


While classical technical analysis indicates a neutral sentiment for the next trading day, our quantitative statistics show a different picture being bullish.

Report Market Conditions
Bounced off Technical Resistance R1 TQ Pro Members Only
Closed above last periods high TQ Pro Members Only
Close to S1 Support TQ Pro Members Only
5 Consecutive Higher Closes TQ Pro Members Only
Strong Up Move TQ Pro Members Only
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Find out what happened when Origin Energy Ltd traded like this in the past. See the odds for each technical pattern with expected gain and loss.


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