SCG.AX dominated by bears dragging the market lower throughout the day


Scentre Group Ltd (SCG.AX) Technical Analysis Report for Jul 13, 2018 | by Techniquant Editorial Team

Highlights

SCG.AX dominated by bears dragging the market lower throughout the day
SCG.AX finds buyers again around 4.45
SCG.AX closes within previous day's range after lackluster session

Overview

SCG.AX finished the week unchanged at 4.47 after flat today. The bears were in full control today, moving the market lower throughout the whole session. Closing within the previous day's range, prices failed to decisively move beyond the prior day's trading range in a lackluster session.

Daily Candlestick Chart (SCG.AX as at Jul 13, 2018):

Daily technical analysis candlestick chart for Scentre Group Ltd (SCG.AX) as at Jul 13, 2018

Friday's trading range was A$0.06 (1.33%), that's below last trading month's daily average range of A$0.07. Things look different on a weekly scale, where volatility is slightly above the markets average with the monthly volatility being slightly below average.

Despite a strong opening the market closed below the previous day's open and close, forming a bearish Engulfing Candle.

After having been unable to move lower than 4.45 in the prior session, Scentre Group found buyers again around the same price level today at 4.45.

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

Buying could speed up should prices move above the nearby swing high at 4.53 where further buy stops might get triggered.


Market Conditions for SCG.AX as at Jul 13, 2018

Loading Market Conditions for SCG.AX (Scentre Group Ltd)...
Latest Report:

SCG.AX closes 0.26% higher at 3.88

Nov 20, 2018
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