RSG.AX finds support at 20-day moving average


Resolute Mining (RSG.AX) Technical Analysis Report for Jul 13, 2018 [< 1 min read]
Highlights
RSG.AX finds support at 20-day moving average
RSG.AX falls to lowest close since July 3rd
TQ Sentiment
Report Sentiment: 0% Neutral
Technical Forecast:
Overview

RSG.AX ended the week -7.04% lower at 1.32 after losing A$0.02 (-1.49%) today. Today's closing price of 1.32 marks the lowest close since July 3rd.

Daily chart for RSG.AX
Volatility

Friday's trading range was A$0.03 (2.24%), that's far below last trading month's daily average range of A$0.04. Things look different on a weekly scale, where volatility is above the markets average with the monthly volatility being slightly above average.

Support/Resistance

Prices are trading close to the key resistance level at 1.35. After trading as low as 1.31 during the day, Resolute Mining found support at the 20-day moving average at 1.31.

Trend

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

Order Flow

Buying might speed up should prices move above the close-by swing high at 1.35 where further buy stops could get activated. As prices are trading close to July's low at 1.26, downside momentum might accelerate should the market mark new lows for the month.

Conclusion

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

Market Conditions for Resolute Mining
ConditionForecastDirectionWinAvgWorstBestEvents
Bearish Intraday Reversal TQ Pro Members Only
Close to Swing Low TQ Pro Members Only
Close to S1 Support TQ Pro Members Only
Closed below last periods low TQ Pro Members Only
3 Consecutive Lower Closes TQ Pro Members Only
More market conditions identified for TQ Pro members...
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