PMV.AX closes lower for the 3rd day in a row

Premier Investments (PMV.AX) Technical Analysis Report for Jul 13, 2018

Highlights

PMV.AX closes lower for the 3rd day in a row
PMV.AX finds buyers again around 16.98
PMV.AX closes within previous day's range after lackluster session
PMV.AX ends the day indecisive

TQ Sentiment

Report Sentiment:
Neutral
Technical Forecast:
TQ Pro Only
See the overall Technical Analysis forecast for today.

Overview

Moving lower for the 3rd day in a row, PMV.AX ended the week 2.94% higher at 17.13 after edging lower A$0.01 (-0.06%) today. Closing within the prior day's range, prices failed to decisively move beyond the previous day's trading range in a lackluster session. Ending the day with an indecisive close, neither buyers nor sellers were able to gain control during the session.

Daily chart for PMV.AX

Volatility

Friday's trading range was A$0.17 (0.99%), that's below last trading month's daily average range of A$0.26. Things look different on a weekly scale, where volatility is slightly above the markets average with the monthly volatility being way below average.

Support/Resistance

Prices are trading close to the key resistance level at 17.17. After having been unable to move lower than 16.98 in the prior session, the stock found buyers again around the same price level today at 16.98.

Trend

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

Order Flow

Buying could accelerate should prices move above the nearby swing high at 17.34 where further buy stops might get activated. With prices trading close to this year's high at 17.36, upside momentum could speed up should the market be able to break out to new highs for the year.

Conclusion

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

Market Conditions for Premier Investments

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PMV.AX breaks below prior session low

Sep 25, 2018
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