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 | by Techniquant Editorial Team
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 Candlestick Chart (SDF.AX as at Aug 10, 2018):
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.
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.
The trend is clearly bullish, showing an intact uptrend in the short, medium and long-term.