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STO.AX closes within previous day's range


Technical Analysis Report for STO.AX - May 18, 2018 [< 1 min read]
Highlights
STO.AX closes within previous day's range
TQ Sentiment
Technical Forecast:
Overview

STO.AX finished the week 0.81% higher at 6.25 after gaining A$0.05 (0.81%) today. Closing within the prior day's range, prices failed to decisively move past the previous day's trading range.

Daily chart for STO.AX
Volatility

Friday's trading range was A$0.10 (1.61%), that's slightly below last trading month's daily average range of A$0.11. Things look different on a weekly scale, where volatility is slightly below the markets average with the monthly volatility being below average.

Price Action

During the whole day, prices traded within the prior day's range, unable to trade above the previous day's high or below the prior day's low forming an Inside Bar. After moving lower in the previous session, the share managed to close higher but below the prior day's open, forming a bullish Harami Candle.

Support/Resistance

Prices are trading close to a key support level at 6.18.

Trend

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

Order Flow

Selling could speed up should prices move below the nearby swing low at 6.16 where further sell stops might get triggered.

Conclusion

While classical technical analysis indicates a neutral sentiment for the next trading day, our quantitative statistics show a different picture being bullish.

Report Market Conditions
ConditionForecastDirectionWinAvgWorstBest
Close to S1 Support TQ Pro Members Only
Bullish Harami Candle TQ Pro Members Only
Close to Swing Low TQ Pro Members Only
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