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

Stockland (SGP.AX) Technical Analysis Report for Jun 14, 2018 | by Techniquant Editorial Team


SGP.AX dominated by bulls lifting the market higher throughout the day
SGP.AX finds support at 100-day moving average
SGP.AX ends the day on a bullish note closing near the high of the day


SGP.AX ended Thursday at 4.15 gaining A$0.02 (0.48%). The bulls were in full control today, moving the market higher throughout the whole session. Ending with a strong close near the high of the day sets a bullish note for the next session.

Daily Candlestick Chart (SGP.AX as at Jun 14, 2018):

Daily technical analysis candlestick chart for Stockland (SGP.AX) as at Jun 14, 2018

Thursday's trading range was A$0.07 (1.71%), that's slightly above last trading month's daily average range of A$0.06. Things look different on a weekly scale, where volatility is way below the markets average with the monthly volatility being slightly below average.

In a volatile session, prices traded above the prior day's high as well as below the previous day's low, forming a bullish Outside Bar. Even with a weak opening Stockland managed to close above the prior day's open and close, forming a bullish Engulfing Candle.

Prices are trading close to a key support level at 4.11. After trading as low as 4.09 during the day, the share found support at the 100-day moving average at 4.10.

The market shows weakness in the short-term (in accordance with its long-term downtrend) with only the medium-term trend being bullish.

Buying might speed up should prices move above the close-by swing high at 4.19 where further buy stops could get activated. As prices are trading close to June's high at 4.22, upside momentum might accelerate should the stock mark new highs for the month.

Latest Report:

SGP.AX ends the day indecisive

Apr 04, 2019
Trending Assets

Upgrade your trading!

Get the stats behind the charts

Find out what happened when Stockland traded like this in the past. See the odds for each technical pattern with expected gain and loss.

Find out more
Top Movers
You have free reports remaining. Subscribe for unlimited access...SUBSCRIBELOGINGO!