SDA.AX still stuck within tight trading range

Speedcast Int Limited (SDA.AX) Technical Analysis Report for Jul 13, 2018 [1 min read]
SDA.AX pushes through key resistance level
SDA.AX dominated by bulls lifting the market higher throughout the day
SDA.AX pushes through 50-day moving average
SDA.AX fails to close above 20-day moving average
SDA.AX finds buyers again around 5.87
TQ Sentiment
Report Sentiment: 62% Bullish
Technical Forecast:

SDA.AX finished the week -0.83% lower at 5.96 after gaining A$0.06 (1.02%) today. The bulls were in full control today, moving the market higher throughout the whole session. Closing within the prior day's range, prices failed to decisively move past the previous day's trading range.

Daily chart for SDA.AX

Friday's trading range was A$0.13 (2.21%), that's slightly below last trading month's daily average range of A$0.14. Things look different on a weekly scale, where volatility is way below the markets average with the monthly volatility being below average. Prices continued to consolidate within a tight trading range between 5.87 and 6.01 which it has been in now for the last trading week.

Price Action

Even with a weak opening the stock managed to close above the prior day's open and close, forming a bullish Engulfing Candle.


Breaking through the key resistance level at 5.93 today, it is now likely to act as support going forward. After having been unable to move lower than 5.87 in the previous session, the share found buyers again around the same price level today at 5.87. After spiking up to 6.00 during the day, the market found resistance at the 20-day moving average at 5.99.


While still in a long-term uptrend, the short and medium-term trends both turned bearish already. Speedcast Int managed to break above the 50-day moving average at 5.92 today for the first time since June 19th.


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

Market Conditions for Speedcast Int Limited
Tweezer Top TQ Pro Members Only
Bearish Intraday Reversal TQ Pro Members Only
Close to Swing Low TQ Pro Members Only
High close to previous High TQ Pro Members Only
Close to S1 Support TQ Pro Members Only
More market conditions identified for TQ Pro members...
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Latest Report:

SDA.AX finds buyers again around 6.07

Jul 20, 2018
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Find out what happened when Speedcast Int Limited traded like this in the past. See the odds for each technical pattern with expected gain and loss.


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