SUN.AX closes above its opening price after recovering from early selling pressure
Suncorp Group Ltd (SUN.AX) Technical Analysis Report for Aug 10, 2018 | by Techniquant Editorial Team
SUN.AX finished the week 4.97% higher at 15.63 after losing A$0.07 (-0.45%) today on high volume. Trading up to A$0.26 lower after the open, the share managed to reverse during the session as bulls took control ending the day above its opening price. Closing within the prior day's range, prices failed to decisively move past the previous day's trading range. Ending the day with an indecisive close, neither buyers nor sellers were able to gain control during the session.
Daily Candlestick Chart (SUN.AX as at Aug 10, 2018):
Friday's trading range was A$0.47 (3.03%), that's far above last trading month's daily average range of A$0.21. Weekly volatility is also higher, being way above the markets average with the monthly volatility being way above average.
The trend is clearly bullish, showing an intact uptrend in the short, medium and long-term.