SPK.AX finds buyers again around 3.62
Spark New Zealand Foreign Exempt NZX (SPK.AX) Technical Analysis Report for Sep 14, 2018
SPK.AX finished the week 1.11% higher at 3.65 after losing A$0.02 (-0.54%) today. Closing within the prior day's range, prices failed to decisively move beyond the previous day's trading range in a lackluster session. Ending the day with an indecisive close, neither buyers nor sellers were able to gain control during the session.
Friday's trading range was A$0.04 (1.09%), that's far below last trading month's daily average range of A$0.06. Things look different on a weekly scale, where volatility is slightly above the markets average with the monthly volatility being slightly below average.
Prices are trading close to a key support level at 3.61. Prices are trading close to the key resistance level at 3.67. After having been unable to move lower than 3.62 in the prior session, the share found buyers again around the same price level today at 3.62.
The trend is clearly bullish, showing an intact uptrend in the short, medium and long-term.
2,017's high at 3.77 is within reach and we could see further upside momentum should the market manage to break out past.
While classical technical analysis indicates a neutral sentiment for the next trading day, our quantitative statistics show a different picture being slightly bullish.
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