RMD.AX pushes through previous session high


Resmed Inc Cdi 10:1 Foreign Exempt NYSE (RMD.AX) Technical Analysis Report for Jul 13, 2018 [< 1 min read]
Highlights
RMD.AX closes above its opening price after recovering from early selling pressure
RMD.AX closes higher for the 4th day in a row
RMD.AX pushes through previous session high
RMD.AX rises to highest close since Inception
TQ Sentiment
Report Sentiment: 50% Bullish
Technical Forecast:
Overview

Moving higher for the 4th day in a row, RMD.AX finished the week 2.86% higher at 14.77 after gaining A$0.12 (0.82%) today. Today's closing price of 14.77 marks the highest close since Inception. Trading up to A$0.06 lower after the open, the market managed to reverse during the session as bulls took control ending the day above its opening price. Closing above Thursday's high at 14.69, Resmed Inc confirms its breakout through the prior session's high having traded A$0.11 above it intraday.

Daily chart for RMD.AX
Volatility

Friday's trading range was A$0.14 (0.95%), that's slightly below last trading month's daily average range of A$0.15. Things look different on a weekly scale, where volatility is way above the markets average with the monthly volatility being slightly below average.

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 Resmed Inc Cdi 10:1 Foreign Exempt NYSE
ConditionForecastDirectionWinAvgWorstBestEvents
White Candle TQ Pro Members Only
Price broke through Technical Resistance R1 TQ Pro Members Only
Close to S1 Support TQ Pro Members Only
Decisive Up Move TQ Pro Members Only
Strong Up Move TQ Pro Members Only
More market conditions identified for TQ Pro members...
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