SDF.AX closes within prior day's range after lackluster session


Steadfast Group Limited (SDF.AX) Technical Analysis Report for Jun 14, 2018 [< 1 min read]
Highlights
SDF.AX finds buyers at key support level
SDF.AX closes within previous day's range after lackluster session
TQ Sentiment
Report Sentiment: 33% Bullish
Technical Forecast:
Overview

SDF.AX finished Thursday at 2.83 flat on low volume. Closing within the previous day's range, prices failed to decisively move beyond the prior day's trading range in a lackluster session.

Daily chart for SDF.AX
Volatility

Thursday's trading range was A$0.04 (1.42%), that's below last trading month's daily average range of A$0.05. Things look different on a weekly scale, where volatility is below the markets average with the monthly volatility being slightly below average.

Support/Resistance

After trading as low as 2.81 during the day, the stock bounced off the key support level at 2.81. The failure to close below the support might increase that levels importance as support going forward.

Trend

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

Order Flow

Selling could speed up should prices move below the close-by swing low at 2.81 where further sell stops might get triggered. With prices trading close to this year's high at 2.92, upside momentum could accelerate should Steadfast Group be able to break out to new highs for the year. As prices are trading close to June's low at 2.77, downside momentum might speed up should the market mark new lows for the month.

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 Steadfast Group Limited
Condition Forecast Direction Win Avg Worst Best Events
Decisive Up Move TQ Pro Members Only
White Candle TQ Pro Members Only
High close to previous three Highs TQ Pro Members Only
Tweezer Top TQ Pro Members Only
Up Close near high of period TQ Pro Members Only
More market conditions identified for TQ Pro members...
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