SVW.AX still stuck within tight trading range

Seven Group Holdings (SVW.AX) Technical Analysis Report for Jul 13, 2018 | by Techniquant Editorial Team


SVW.AX rallies 2.18% on high volume
SVW.AX dominated by bulls lifting the market higher throughout the day
SVW.AX pushes through 50-day moving average
SVW.AX pushes through previous session high
SVW.AX still stuck within tight trading range


SVW.AX ended the week 1.02% higher at 19.72 after surging A$0.42 (2.18%) today on high volume. This is the biggest single day gain in over a week. The bulls were in full control today, moving the market higher throughout the whole session. Closing above Thursday's high at 19.69, the share confirms its breakout through the previous session's high having traded A$0.10 above it intraday.

Daily Candlestick Chart (SVW.AX as at Jul 13, 2018):

Daily technical analysis candlestick chart for Seven Group Holdings (SVW.AX) as at Jul 13, 2018

Friday's trading range was A$0.32 (1.64%), that's far below last trading month's daily average range of A$0.49. Things look different on a weekly scale, where volatility is below the markets average with the monthly volatility being slightly above average. Prices continued to consolidate within a tight trading range between 19.25 and 19.95 which it has been in now for the last trading week.

Prices are trading close to a key support level at 19.35. Prices are trading close to the key resistance level at 20.10.

The trend is clearly bullish, showing an intact uptrend in the short, medium and long-term. The stock managed to break above the 50-day moving average at 19.66 today for the first time since July 10th.

Buying could speed up should prices move above the close-by swing high at 19.95 where further buy stops might get activated. Selling could accelerate should prices move below the nearby swing low at 19.25 where further sell stops might get triggered.

Market Conditions for SVW.AX as at Jul 13, 2018

Loading Market Conditions for SVW.AX (Seven Group Holdings)...
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