RMD.AX ends the day on a bearish note closing near the low of the day
Resmed Inc Cdi 10:1 Foreign Exempt NYSE (RMD.AX) Technical Analysis Report for Jun 14, 2018 | by Techniquant Editorial Team
RMD.AX ended Thursday at 14.06 losing A$0.05 (-0.35%). The bears were in full control today, moving the market lower throughout the whole session. Closing below Wednesday's low at 14.07, the stock confirms its breakout through the previous session's low having traded A$0.02 below it intraday. Ending with a weak close near the low of the day sets a bearish note for the next session.
Daily Candlestick Chart (RMD.AX as at Jun 14, 2018):
Thursday's trading range was A$0.10 (0.71%), that's slightly below last trading month's daily average range of A$0.11. Things look different on a weekly scale, where volatility is slightly above the markets average with the monthly volatility being slightly below average.
In a volatile session, prices traded above the prior day's high as well as below the previous day's low, forming a bearish Outside Bar. Despite a strong opening the share closed below the prior day's open and close, forming a bearish Engulfing Candle.
After having been unable to move above 14.14 in the previous session, Resmed Inc ran into sellers again around the same price level today, failing to move higher than 14.15.
The trend is clearly bullish, showing an intact uptrend in the short, medium and long-term.