SEK.AX pushes through key resistance level


Seek Limited (SEK.AX) Technical Analysis Report for Jul 13, 2018 [1 min read]
Highlights
SEK.AX rallies 1.59% on low volume
SEK.AX pushes through key resistance level
SEK.AX dominated by bulls lifting the market higher throughout the day
SEK.AX pushes through 20-day moving average
SEK.AX closes higher for the 4th day in a row
TQ Sentiment
Report Sentiment: 66% Bullish
Technical Forecast:
Overview

Moving higher for the 4th day in a row, SEK.AX finished the week 2.25% higher at 21.78 after surging A$0.34 (1.59%) today on low volume. This is the biggest single day gain in over three weeks. Today's closing price of 21.78 marks the highest close since June 29th. The bulls were in full control today, moving the market higher throughout the whole session. Closing above Thursday's high at 21.65, the market confirms its breakout through the prior session's high having traded A$0.20 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 SEK.AX
Volatility

Friday's trading range was A$0.45 (2.1%), that's slightly above last trading month's daily average range of A$0.39. Things look different on a weekly scale, where volatility is slightly below the markets average with the monthly volatility being way below average.

Support/Resistance

Breaking through the key resistance level at 21.53 today, it is now likely to act as support going forward. Prices are trading close to the key resistance level at 22.02.

Trend

Though Seek Limited is currently in a short-term down trend, this could just be a correction, as the medium and long term trends are both positive. The stock managed to break above the 20-day moving average at 21.75 today for the first time since June 6th.

Order Flow

As prices are trading close to July's high at 22.00, upside momentum might accelerate should the share mark new highs for the month.

Conclusion

Even though both sentiments are bullish for the next trading day, our quantitative statistics are only slightly bullish while the classical technical analysis metrics show a bullish sentiment.

Market Conditions for Seek Limited
ConditionForecastDirectionWinAvgWorstBestEvents
Black Candle TQ Pro Members Only
Close to S1 Support TQ Pro Members Only
4 Consecutive Higher Closes TQ Pro Members Only
Bearish Hikkake Pattern TQ Pro Members Only
Closed above last periods high 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 Seek Limited traded like this in the past. See the odds for each technical pattern with expected gain and loss.

Signup

Stocks Top Movers

GBPUSD 1.31350.0120 0.92%
GOLD 1,231.99.4 0.77%
HSI 28,224.48213.62 0.76%
EURUSD 1.17230.0081 0.70%
ASX 6,285.9023.20 0.37%
INDU 25,058.12-6.38 -0.03%
NDX 7,350.23-2.13 -0.03%
FTSE 7,678.79-5.21 -0.07%
NATGAS 2.733-0.002 -0.07%
SPX 2,801.83-2.66 -0.09%
Start your day with the facts moving the markets
By clicking "Subscribe", you agree to our terms and privacy policy.

Related Stocks

ABBV 10 day candlestick chart for ABBV88.91 -1.04
-1.16%
ACN 10 day candlestick chart for ACN166.52 -0.37
-0.22%
ADBE 10 day candlestick chart for ADBE257.54 -0.14
-0.05%
AAP 10 day candlestick chart for AAP142.67 -0.70
-0.49%
AES 10 day candlestick chart for AES13.03 0.00
0.00%
AET 10 day candlestick chart for AET187.22 -2.82
-1.48%
AFL 10 day candlestick chart for AFL43.06 0.17
0.40%
AMG 10 day candlestick chart for AMG148.84 -0.47
-0.31%
A 10 day candlestick chart for A63.85 -0.30
-0.47%
ABT 10 day candlestick chart for ABT63.32 -0.46
-0.72%