SWM.AX ends the day indecisive
Seven West Media Limited (SWM.AX) Technical Analysis Report for Dec 07, 2018 | by Techniquant Editorial Team
SWM.AX finished the week -2.94% lower at 0.66 after flat today on low volume, slightly underperforming the ASX 200 (0.42%). Ending the day with an indecisive close, neither buyers nor sellers were able to gain control during the session.
Daily Candlestick Chart (SWM.AX as at Dec 07, 2018):
Friday's trading range has been $0.03 (4.48%), that's slightly above the last trading month's daily average range of $0.03. Things look different on the weekly timeframe, where the market's trading range of the last week has been slightly below the market's average weekly trading range. The longer-term, monthly volatility is currently slightly lower than usual for SWM.AX.
The trend is clearly bearish, showing an intact downtrend in the short, medium and long-term.
Buying might accelerate should prices move above the close-by swing high at 0.69 where further buy stops could get triggered.