SDF.AX ends the day on a bearish note closing near the low of the day


Steadfast Group Limited (SDF.AX) Technical Analysis Report for Aug 10, 2018 [< 1 min read]
Highlights
SDF.AX dominated by bears dragging the market lower throughout the day
SDF.AX ends the day on a bearish note closing near the low of the day
SDF.AX runs into sellers again around 3.00
SDF.AX closes within previous day's range after lackluster session
TQ Sentiment
Report Sentiment: 75% Bearish
Technical Forecast:
Overview

SDF.AX ended the week -1.0% lower at 2.97 after edging lower A$0.01 (-0.34%) today. The bears were in full control today, moving the market lower throughout the whole session. Closing within the previous day's range, prices failed to decisively move past the prior day's trading range in a lackluster session. Ending with a weak close near the low of the day sets a bearish note for the next session.

Daily chart for SDF.AX
Volatility

Friday's trading range was A$0.03 (1.0%), that's far below last trading month's daily average range of A$0.05. Things look different on a weekly scale, where volatility is above the markets average with the monthly volatility being way above average.

Support/Resistance

After having been unable to move above 3.00 in the previous session, Steadfast Group ran into sellers again around the same price level today, failing to move higher than 3.00.

Trend

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

Conclusion

While classical technical analysis indicates a bearish 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
Strong Up Move TQ Pro Members Only
Decisive Up Move TQ Pro Members Only
4 Consecutive Higher Closes TQ Pro Members Only
White Candle TQ Pro Members Only
Very Strong Up Move TQ Pro Members Only
More market conditions identified for TQ Pro members...
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Latest Report:

SDF.AX soars 2.0% closing A$0.06 higher

Aug 16, 2018
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