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

Highlights

SRX.AX dominated by bulls lifting the market higher throughout the day
SRX.AX closes higher for the 6th day in a row
SRX.AX ends the day on a bullish note closing near the high of the day
SRX.AX rises to highest close since September 29, 2016
SRX.AX closes within previous day's range

TQ Sentiment

Report Sentiment:
28% Bullish
Technical Forecast:

Overview

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.

Daily chart for SRX.AX

Volatility

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.

Price Action

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.

Trend

The trend is clearly bullish, showing an intact uptrend in the short, medium and long-term.

Order Flow

Buying could accelerate should prices move above the close-by swing high at 32.31 where further buy stops might get activated.

Conclusion

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

Loading Market Conditions for $SRX.AX (Sirtex Medical)...

We are currently reviewing the data for SRX.AX

We expect this issue to be resolved within 24 hours.

Trending Assets

Upgrade your trading!

Get the stats behind the charts

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

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