RMD.AX pushes through previous session high
Resmed Inc Cdi 10:1 Foreign Exempt NYSE (RMD.AX) Technical Analysis Report for Jul 13, 2018
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.
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.
The trend is clearly bullish, showing an intact uptrend in the short, medium and long-term.
While classical technical analysis indicates a neutral sentiment for the next trading day, our quantitative statistics show a different picture being bullish.