ORG.AX pushes through previous session high
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.
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.
Market Conditions for Origin Energy Ltd
|Close to S1 Support||TQ Pro Members Only|
|Price broke through Technical Resistance R1||TQ Pro Members Only|
|2 Consecutive Higher Closes||TQ Pro Members Only|
|Bullish Break through SMA 50||TQ Pro Members Only|
|Close to Swing Low||TQ Pro Members Only|
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