SCP.AX breaks below 20-day moving average


Sca Property Group Units FP Stapled Securities (SCP.AX) Technical Analysis Report for Jul 13, 2018 [1 min read]
Highlights
SCP.AX breaks below 20-day moving average
SCP.AX fails to close above 20-day moving average
SCP.AX closes within previous day's range after lackluster session
TQ Sentiment
Report Sentiment: 28% Bearish
Technical Forecast:
Overview

SCP.AX ended the week -0.8% lower at 2.48 after losing A$0.02 (-0.8%) today on low volume. Closing within the prior day's range, prices failed to decisively move past the previous day's trading range in a lackluster session.

Daily chart for SCP.AX
Volatility

Friday's trading range was A$0.03 (1.2%), that's below last trading month's daily average range of A$0.04. Things look different on a weekly scale, where volatility is below the markets average with the monthly volatility being slightly below average.

Price Action

During the whole day, prices traded within the prior day's range, unable to trade above the previous day's high or below the prior day's low forming an Inside Bar.

Support/Resistance

Prices are trading close to a key support level at 2.46. After spiking up to 2.50 during the day, the market found resistance at the 20-day moving average at 2.50.

Trend

The trend is clearly bullish, showing an intact uptrend in the short, medium and long-term. The share broke below the 20-day moving average at 2.50 today for the first time since July 9th.

Order Flow

Buying could accelerate should prices move above the nearby swing high at 2.52 where further buy stops might get triggered. Selling could speed up should prices move below the close-by swing low at 2.45 where further sell stops might get activated. Further selling could move prices lower should the market test June's nearby low at 2.41.

Conclusion

While classical technical analysis indicates a neutral sentiment for the next trading day, our quantitative statistics show a different picture being slightly bullish.

Market Conditions for Sca Property Group Units FP Stapled Securities
ConditionForecastDirectionWinAvgWorstBestEvents
Close near low of period TQ Pro Members Only
Bearish Intraday Reversal TQ Pro Members Only
Tweezer Bottom TQ Pro Members Only
Black Candle TQ Pro Members Only
Homing Pigeon TQ Pro Members Only
More market conditions identified for TQ Pro members...
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