ORG.AX pushes through previous session high

Technical Analysis Report for ORG.AX - May 18, 2018 [< 1 min read]
ORG.AX rallies 3.27% on high volume
ORG.AX pushes through key resistance level
ORG.AX dominated by bulls lifting the market higher throughout the day
ORG.AX closes higher for the 3rd day in a row
ORG.AX pushes through previous session high
TQ Sentiment
Technical Forecast:

Moving higher for the 3rd day in a row, ORG.AX ended the week 2.54% higher at 10.10 after surging A$0.32 (3.27%) today on high volume. This is the biggest single day gain in over three months. Today's closing price of 10.10 marks the highest close since August 13, 2015. The bulls were in full control today, moving the market higher throughout the whole session. Closing above Thursday's high at 9.82, the share confirms its breakout through the prior session's high having traded A$0.36 above it intraday.

Daily chart for ORG.AX

Friday's trading range was A$0.28 (2.83%), that's far above last trading month's daily average range of A$0.18. Weekly volatility is also higher, being above the markets average with the monthly volatility being slightly below average.


Breaking through the key resistance level at 10.00 today, it is now likely to act as support going forward.


The trend is clearly bullish, showing an intact uptrend in the short, medium and long-term.


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

Report Market Conditions
Price broke through Technical Resistance R1 TQ Pro Members Only
Closed above last periods high TQ Pro Members Only
3 Consecutive Higher Closes TQ Pro Members Only
Strong Up Move TQ Pro Members Only
Decisive 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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