REA.AX closes within prior day's range


REA Group (REA.AX) Technical Analysis Report for Jun 14, 2018 [< 1 min read]
Highlights
REA.AX closes below its opening price unable to hold early session gains
REA.AX unable to break through key resistance level
REA.AX finds buyers again around 89.25
REA.AX closes within previous day's range
REA.AX ends the day indecisive
TQ Sentiment
Report Sentiment: 0% Neutral
Technical Forecast:
Overview

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 chart for REA.AX
Volatility

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.

Support/Resistance

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.

Trend

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

Conclusion

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

Market Conditions for REA Group
Condition Forecast Direction Win Avg Worst Best Events
Close to R1 Resistance TQ Pro Members Only
9 Consecutive Higher Closes TQ Pro Members Only
Closed above last periods high TQ Pro Members Only
Bullish Spinning Top TQ Pro Members Only
Bullish Intraday Reversal TQ Pro Members Only
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