SCP.AX closes lower for the 2nd day in a row
Sca Property Group Units FP Stapled Securities (SCP.AX) Technical Analysis Report for Sep 14, 2018 | by Techniquant Editorial Team
Moving lower for the 2nd day in a row, SCP.AX finished the week unchanged at 2.46 after losing A$0.01 (-0.4%) today. Ending with a weak close near the low of the day sets a bearish note for the next session.
Daily Candlestick Chart (SCP.AX as at Sep 14, 2018):
Friday's trading range was A$0.02 (0.81%), that's below last trading month's daily average range of A$0.03. Things look different on a weekly scale, where volatility is slightly below the markets average with the monthly volatility being slightly above average.
After having been unable to move lower than 2.46 in the previous session, the market found buyers again around the same price level today at 2.46.
Sca Property shows strength in the short-term supported by its long-term uptrend with only the medium-term trend being bearish.
Buying could accelerate should prices move above the nearby swing high at 2.49 where further buy stops might get triggered.