RFG.AX pushes through 20-day moving average
Retail Food Group (RFG.AX) Technical Analysis Report for Aug 10, 2018 | by Techniquant Editorial Team
RFG.AX finished the week unchanged at 0.42 after gaining A$0.01 (2.44%) today. The bulls were in full control today, moving the market higher throughout the whole session. Ending with a strong close near the high of the day sets a bullish note for the next session.
Daily Candlestick Chart (RFG.AX as at Aug 10, 2018):
Friday's trading range was A$0.02 (5.0%), that's slightly above last trading month's daily average range of A$0.02. Things look different on a weekly scale, where volatility is slightly below the markets average with the monthly volatility being slightly below average.
Despite a weak opening Retail Food managed to close above the previous day's open and close, forming a bullish Engulfing Candle.
The market was sold again around 0.42 after having seen highs at 0.42, 0.42 and 0.42 in the last three trading sessions. Obviously there is something going on at that level.
The trend is clearly bearish, showing an intact downtrend in the short, medium and long-term. The share managed to break above the 20-day moving average at 0.42 today for the first time since May 29th.