SBM.AX rallies 2.12% closing A$0.10 higher
ST Barbara Limited (SBM.AX) Technical Analysis Report for Jun 14, 2018 | by Techniquant Editorial Team
SBM.AX ended Thursday at 4.82 surging A$0.10 (2.12%). This is the biggest single day gain in over a week. The bulls were in full control today, moving the market higher throughout the whole session. Closing above Wednesday's high at 4.78, the market confirms its breakout through the previous session's high having traded A$0.06 above it intraday. Ending with a strong close near the high of the day sets a bullish note for the next session.
Daily Candlestick Chart (SBM.AX as at Jun 14, 2018):
Thursday's trading range was A$0.15 (3.19%), that's above last trading month's daily average range of A$0.12. Weekly volatility is also higher, being slightly above the markets average with the monthly volatility being slightly below average.
Breaking through the key resistance level at 4.79 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.