SVW.AX pushes through 20-day moving average


Seven Group Holdings (SVW.AX) Technical Analysis Report for Jun 14, 2018 [< 1 min read]
Highlights
SVW.AX dominated by bulls lifting the market higher throughout the day
SVW.AX pushes through 20-day moving average
SVW.AX finds buyers again around 19.65
SVW.AX closes within previous day's range after lackluster session
TQ Sentiment
Technical Forecast:
Overview

SVW.AX ended Thursday at 19.89 gaining A$0.06 (0.3%). The bulls were in full control today, moving the market higher throughout the whole session. Closing within the prior day's range, prices failed to decisively move past the previous day's trading range in a lackluster session.

Daily chart for SVW.AX
Volatility

Thursday's trading range was A$0.34 (1.73%), that's below last trading month's daily average range of A$0.46. Things look different on a weekly scale, where volatility is slightly below the markets average with the monthly volatility being way below average.

Support/Resistance

Prices are trading close to the key resistance level at 20.10. After having been unable to move lower than 19.70 in the prior session, the market found buyers again around the same price level today at 19.65.

Trend

The trend is clearly bullish, showing an intact uptrend in the short, medium and long-term. The stock managed to break above the 20-day moving average at 19.87 today for the first time since June 4th.

Order Flow

Selling could accelerate should prices move below the close-by swing low at 19.42 where further sell stops might get activated. As prices are trading close to June's low at 19.42, downside momentum could speed up should the share mark new lows for the month.

Conclusion

Both sentiments, the classical technical analysis and our quantitative statistics are in perfect alignment today showing a neutral sentiment for the next trading day.

Market Conditions for Seven Group Holdings
ConditionForecastDirectionWinAvgWorstBest
Close to S1 Support TQ Pro Members Only
Black Candle TQ Pro Members Only
High close to previous High TQ Pro Members Only
More market conditions identified for TQ Pro members...
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