STO.AX closes above its opening price after recovering from early selling pressure

Santos Ltd (STO.AX) Technical Analysis Report for Jun 14, 2018 | by Techniquant Editorial Team


STO.AX closes above its opening price after recovering from early selling pressure
STO.AX closes lower for the 2nd day in a row
STO.AX falls to lowest close since June 6th
STO.AX ends the day indecisive


Moving lower for the 2nd day in a row, STO.AX finished Thursday at 5.82 losing A$0.04 (-0.68%). Today's closing price of 5.82 marks the lowest close since June 6th. Trading up to A$0.07 lower after the open, the share managed to reverse during the session as bulls took control ending the day above its opening price. Ending the day with an indecisive close, neither buyers nor sellers were able to gain control during the session.

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

Daily technical analysis candlestick chart for Santos Ltd (STO.AX) as at Jun 14, 2018

Thursday's trading range was A$0.12 (2.07%), that's slightly below last trading month's daily average range of A$0.14. Things look different on a weekly scale, where volatility is below the markets average with the monthly volatility being above average.

Santos Ltd shows strength in the short-term supported by its long-term uptrend with only the medium-term trend being bearish.

Further selling could move prices lower should the market test May's nearby low at 5.55.

Latest Report:

STO.AX closes within prior day's range

Apr 04, 2019
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