PPT.AX closes higher for the 2nd day in a row

Perpetual Limited (PPT.AX) Technical Analysis Report for Jul 13, 2018 | by Techniquant Editorial Team


PPT.AX pushes through key resistance level
PPT.AX closes above its opening price after recovering from early selling pressure
PPT.AX pushes through 100-day moving average
PPT.AX closes higher for the 2nd day in a row
PPT.AX ends the day on a bullish note closing near the high of the day


Moving higher for the 2nd day in a row, PPT.AX ended the week 0.76% higher at 43.77 after gaining A$0.27 (0.62%) today on low volume. Trading up to A$0.40 lower after the open, the market managed to reverse during the session as bulls took control ending the day above its opening price. Closing within the prior day's range, prices failed to decisively move beyond the previous day's trading range. Ending with a strong close near the high of the day sets a bullish note for the next session.

Daily Candlestick Chart (PPT.AX as at Jul 13, 2018):

Daily technical analysis candlestick chart for Perpetual Limited (PPT.AX) as at Jul 13, 2018

Friday's trading range was A$0.65 (1.49%), that's slightly below last trading month's daily average range of A$0.88. Things look different on a weekly scale, where volatility is slightly below the markets average with the monthly volatility being above average.

Breaking through the key resistance level at 43.68 today, it is now likely to act as support going forward. After having been unable to move above 43.84 in the prior session, Perpetual Limited ran into sellers again around the same price level today, failing to move higher than 43.85.

Although still in a long-term downtrend, the short and medium-term trends both turned bullish already. The stock managed to break above the 100-day moving average at 43.71 today for the first time since July 10th.

Market Conditions for PPT.AX as at Jul 13, 2018

Loading Market Conditions for PPT.AX (Perpetual Limited)...
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