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 [1 min read]
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
ConditionForecastDirectionWinAvgWorstBestEvents
White Candle TQ Pro Members Only
Close to Swing Low TQ Pro Members Only
High close to previous High TQ Pro Members Only
Last Engulfing Top Pattern TQ Pro Members Only
Decisive Up Move TQ Pro Members Only
More market conditions identified for TQ Pro members...
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