RRL.AX closes below its opening price unable to hold early session gains


Regis Resources (RRL.AX) Technical Analysis Report for Jul 13, 2018 [< 1 min read]
Highlights
RRL.AX pulls back from highs giving back most intraday gains
RRL.AX closes below its opening price unable to hold early session gains
RRL.AX unable to break through key resistance level
RRL.AX closes within previous day's range
RRL.AX ends the day indecisive
TQ Sentiment
Report Sentiment: 60% Bearish
Technical Forecast:
Overview

RRL.AX finished the week -0.19% lower at 5.15 after flat today. Trading A$0.11 higher after the open, the market was unable to hold its gains as the bears took control ending the day below its opening price. Closing within the prior day's range, prices failed to decisively move beyond the previous day's trading range. Ending the day with an indecisive close, neither buyers nor sellers were able to gain control during the session.

Daily chart for RRL.AX
Volatility

Friday's trading range was A$0.16 (3.08%), that's far above last trading month's daily average range of A$0.11. Things look different on a weekly scale, where volatility is slightly below the markets average with the monthly volatility being slightly below average.

Price Action

After spiking up to 5.30 during the day, the share has been sold off at those price levels and formed a bearish Pin Bar closing A$0.15 below today's high.

Support/Resistance

Unable to break through the key technical resistance level at 5.21, the stock closed below it after spiking as high as 5.30 during the day. The failure to close above the resistance could increase that levels importance as resistance going forward.

Trend

The trend is clearly bullish, showing an intact uptrend in the short, medium and long-term.

Conclusion

While classical technical analysis indicates a slightly bearish sentiment for the next trading day, our quantitative statistics show a different picture being bullish.

Market Conditions for Regis Resources
ConditionForecastDirectionWinAvgWorstBestEvents
Close to Swing Low TQ Pro Members Only
High close to previous High TQ Pro Members Only
Bullish Bounce off SMA 50 TQ Pro Members Only
Close to S1 Support TQ Pro Members Only
Closed below last periods low TQ Pro Members Only
More market conditions identified for TQ Pro members...
Learn more about TQ Pro
Trending Assets

Upgrade your trading!

Get the stats behind the charts

Find out what happened when Regis Resources traded like this in the past. See the odds for each technical pattern with expected gain and loss.

Signup

Stocks Top Movers

GBPUSD 1.31350.0120 0.92%
GOLD 1,231.99.4 0.77%
HSI 28,224.48213.62 0.76%
EURUSD 1.17230.0081 0.70%
ASX 6,285.9023.20 0.37%
INDU 25,058.12-6.38 -0.03%
NDX 7,350.23-2.13 -0.03%
FTSE 7,678.79-5.21 -0.07%
NATGAS 2.733-0.002 -0.07%
SPX 2,801.83-2.66 -0.09%
Start your day with the facts moving the markets
By clicking "Subscribe", you agree to our terms and privacy policy.

Related Stocks

ABBV 10 day candlestick chart for ABBV88.91 -1.04
-1.16%
ACN 10 day candlestick chart for ACN166.52 -0.37
-0.22%
ADBE 10 day candlestick chart for ADBE257.54 -0.14
-0.05%
AAP 10 day candlestick chart for AAP142.67 -0.70
-0.49%
AES 10 day candlestick chart for AES13.03 0.00
0.00%
AET 10 day candlestick chart for AET187.22 -2.82
-1.48%
AFL 10 day candlestick chart for AFL43.06 0.17
0.40%
AMG 10 day candlestick chart for AMG148.84 -0.47
-0.31%
A 10 day candlestick chart for A63.85 -0.30
-0.47%
ABT 10 day candlestick chart for ABT63.32 -0.46
-0.72%