S32.AX pops to highest close since Inception
South32 Ltd (S32.AX) Technical Analysis Report for May 17, 2018 | by Techniquant Editorial Team
Moving higher for the 2nd day in a row, S32.AX ended Thursday at 4.03 gaining A$0.06 (1.51%). Today's closing price of 4.03 marks the highest close since Inception. Closing above Wednesday's high at 4.01, the share confirms its breakout through the prior session's high having traded A$0.06 above it intraday.
Daily Candlestick Chart (S32.AX as at May 17, 2018):
Thursday's trading range was A$0.11 (2.77%), that's far above last trading month's daily average range of A$0.08. Things look different on a weekly scale, where volatility is below the markets average with the monthly volatility being way below average.
Breaking through the key resistance level at 3.99 today, it is now likely to act as support going forward.
The trend is clearly bullish, showing an intact uptrend in the short, medium and long-term.