SBM.AX rallies 2.12% closing A$0.10 higher


ST Barbara Limited (SBM.AX) Technical Analysis Report for Jun 14, 2018 [< 1 min read]
Highlights
SBM.AX rallies 2.12% closing A$0.10 higher
SBM.AX pushes through key resistance level
SBM.AX dominated by bulls lifting the market higher throughout the day
SBM.AX ends the day on a bullish note closing near the high of the day
SBM.AX pushes through previous session high
TQ Sentiment
Technical Forecast:
Overview

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 chart for SBM.AX
Volatility

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.

Support/Resistance

Breaking through the key resistance level at 4.79 today, it is now likely to act as support going forward.

Trend

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

Conclusion

Even though both sentiments are bullish for the next trading day, our quantitative statistics are only bullish while the classical technical analysis metrics show a very bullish sentiment.

Market Conditions for ST Barbara Limited
ConditionForecastDirectionWinAvgWorstBestEvents
2 Consecutive Lower Closes TQ Pro Members Only
Close to S1 Support TQ Pro Members Only
Black Candle TQ Pro Members Only
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