SVW.AX pushes through 20-day moving average
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.
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.
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.
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.
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.
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
|Decisive Up Move||TQ Pro Members Only|
|White Candle||TQ Pro Members Only|
|Close to S1 Support||TQ Pro Members Only|
|Close to Swing High||TQ Pro Members Only|
|7 Consecutive Higher Closes||TQ Pro Members Only|
More market conditions identified for TQ Pro members...
Learn more about TQ Pro