RMD.AX ends the day on a bearish note closing near the low of the day
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.
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.
While classical technical analysis indicates a very bearish sentiment for the next trading day, our quantitative statistics show a different picture being bullish.
Market Conditions for Resmed Inc Cdi 10:1 Foreign Exempt NYSE
|Down Close Near Low of Period||TQ Pro Members Only|
|Bearish Belt-hold||TQ Pro Members Only|
|Closed below last periods low||TQ Pro Members Only|
|Black Candle||TQ Pro Members Only|
|Close near low of period||TQ Pro Members Only|
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