SDA.AX dominated by bulls lifting the market higher throughout the day

Speedcast Int Limited (SDA.AX) Technical Analysis Report for Sep 14, 2018

Highlights

Traders officially love to sell SDA.AX against 4.33 level
SDA.AX dominated by bulls lifting the market higher throughout the day
SDA.AX ends the day on a bullish note closing near the high of the day
SDA.AX pushes through previous session high
SDA.AX rises to highest close since September 7th

TQ Sentiment

Report Sentiment: 50% Bullish
Technical Forecast:

Overview

SDA.AX finished the week -3.14% lower at 4.32 after gaining A$0.20 (4.85%) today. Today's closing price of 4.32 marks the highest close since September 7th. The bulls were in full control today, moving the market higher throughout the whole session. Closing above Thursday's high at 4.29, the share confirms its breakout through the prior session's high having traded A$0.04 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 SDA.AX

Volatility

Friday's trading range was A$0.22 (5.29%), that's slightly below last trading month's daily average range of A$0.28. Things look different on a weekly scale, where volatility is way below the markets average with the monthly volatility being way above average.

Support/Resistance

Speedcast Int was sold again around 4.33 after having seen highs at 4.29, 4.30 and 4.32 in the last three trading sessions. Obviously there is something going on at that level.

Trend

Though the market is experiencing a short-term up trend, this could just be a correction, as both the medium and long term trends are still in negative territory.

Order Flow

Buying might accelerate should prices move above the nearby swing high at 4.50 where further buy stops could get triggered. With prices trading close to this year's low at 3.90, downside momentum might speed up should the stock break out to new lows for the year.

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 Speedcast Int Limited

Condition Forecast Direction Win Rate Exit Day Events
2 Consecutive Lower Closes TQ Pro Members Only
Closed below last periods low TQ Pro Members Only
Bounced off Technical Resistance R1 TQ Pro Members Only
Close to R1 Resistance TQ Pro Members Only
RSI(2) below 20 TQ Pro Members Only
More market conditions identified for TQ Pro members...
Learn more about TQ Pro
Trending Assets

Upgrade your trading!

Get the stats behind the charts

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.

Find out more
Top Market Movers

Related Stocks

CNU.AX 10 day candlestick chart for CNU.AX 4.54 0.05 (1.11%)
SDA.AX 10 day candlestick chart for SDA.AX 3.92 -0.15 (-3.69%)
SPK.AX 10 day candlestick chart for SPK.AX 3.72 0.07 (1.92%)
TLS.AX 10 day candlestick chart for TLS.AX 3.21 -0.03 (-0.93%)
TPM.AX 10 day candlestick chart for TPM.AX 8.72 0.00 (0.00%)
You have free reports remaining. Subscribe for unlimited access...SUBSCRIBELOGINGO!