REA.AX closes within prior day's range
REA Group (REA.AX) Technical Analysis Report for Jun 14, 2018 | by Techniquant Editorial Team
REA.AX ended Thursday at 90.11 gaining A$0.31 (0.35%). Trading A$1.77 higher after the open, REA Group was unable to hold its gains as the bears took control ending the day below its opening price. Closing within the previous day's range, prices failed to decisively move past the prior day's trading range. Ending the day with an indecisive close, neither buyers nor sellers were able to gain control during the session.
Daily Candlestick Chart (REA.AX as at Jun 14, 2018):
Thursday's trading range was A$2.68 (2.97%), that's above last trading month's daily average range of A$1.92. Weekly volatility is also higher, being slightly above the markets average with the monthly volatility being way below average.
Prices are trading close to a key support level at 88.98. Unable to break through the key technical resistance level at 91.11, the market closed below it after spiking as high as 91.93 during the day. The failure to close above the resistance might increase that levels importance as resistance going forward. After having been unable to move lower than 89.15 in the previous session, the stock found buyers again around the same price level today at 89.25.
The trend is clearly bullish, showing an intact uptrend in the short, medium and long-term.