RSG.AX finds support at 20-day moving average

Resolute Mining (RSG.AX) Technical Analysis Report for Jul 13, 2018

Highlights

RSG.AX finds support at 20-day moving average
RSG.AX falls to lowest close since July 3rd

TQ Sentiment

Report Sentiment:
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

Loading Market Conditions for $RSG.AX (Resolute Mining)...
Trending Assets

Upgrade your trading!

Get the stats behind the charts

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

Find out more
Top Market Movers
You have free reports remaining. Subscribe for unlimited access...SUBSCRIBELOGINGO!