SRX.AX ends the day on a bullish note closing near the high of the day
Sirtex Medical (SRX.AX) Technical Analysis Report for Jul 13, 2018
Moving higher for the 6th day in a row, SRX.AX finished the week 1.68% higher at 32.05 after gaining A$0.10 (0.31%) today. Today's closing price of 32.05 marks the highest close since September 29, 2016. The bulls were in full control today, moving the market higher throughout the whole session. Closing within the previous day's range, prices failed to decisively move beyond the prior day's trading range. Ending with a strong close near the high of the day sets a bullish note for the next session.
Friday's trading range was A$0.20 (0.63%), that's slightly below last trading month's daily average range of A$0.21. Things look different on a weekly scale, where volatility is slightly below the markets average with the monthly volatility being slightly below average.
During the whole day, prices traded within the previous day's range, unable to trade above the prior day's high or below the previous day's low forming an Inside Bar.
The trend is clearly bullish, showing an intact uptrend in the short, medium and long-term.
Buying could accelerate should prices move above the close-by swing high at 32.31 where further buy stops might get activated.
While classical technical analysis indicates a neutral sentiment for the next trading day, our quantitative statistics show a different picture being bearish.
Market Conditions for Sirtex Medical
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