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


Santos Ltd (STO.AX) Technical Analysis Report for Jun 14, 2018 [< 1 min read]
Highlights
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
TQ Sentiment
Report Sentiment: 25% Bullish
Technical Forecast:
Overview

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 chart for STO.AX
Volatility

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.

Trend

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

Order Flow

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

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 Santos Ltd
Condition Forecast Direction Win Avg Worst Best Events
Southern Doji TQ Pro Members Only
Close to R1 Resistance TQ Pro Members Only
2 Consecutive Lower Closes TQ Pro Members Only
Close to S1 Support TQ Pro Members Only
Low close to previous low TQ Pro Members Only
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