TCL.AX closes above its opening price after recovering from early selling pressure


Transurban Group NPV (TCL.AX) Technical Analysis Report for May 18, 2018

Highlights

TCL.AX closes above its opening price after recovering from early selling pressure
TCL.AX ends the day on a bullish note closing near the high of the day
TCL.AX closes within previous day's range

Overview

TCL.AX ended the week -3.88% lower at 11.40 after edging higher A$0.04 (0.35%) today. Trading up to A$0.12 lower after the open, the stock 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 beyond the previous day's trading range. Ending with a strong close near the high of the day sets a bullish note for the next session.

Daily Candlestick Chart (TCL.AX as at May 18, 2018):

Daily technical analysis candlestick chart for Transurban Group NPV (TCL.AX) as at May 18, 2018

Friday's trading range was A$0.17 (1.5%), that's slightly below last trading month's daily average range of A$0.17. Things look different on a weekly scale, where volatility is way above the markets average with the monthly volatility being slightly above average.

During the whole day, prices traded within the prior day's range, unable to trade above the previous day's high or below the prior day's low forming an Inside Bar. After moving lower in the previous session, the share managed to close higher but below the prior day's open, forming a bullish Harami Candle.

Prices are trading close to the key resistance level at 11.55.

The trend is clearly bearish, showing an intact downtrend in the short, medium and long-term.


Market Conditions for TCL.AX as at May 18, 2018

Loading Market Conditions for TCL.AX (Transurban Group NPV)...
Latest Report:

TCL.AX closes within prior day's range

Oct 15, 2018
Trending Assets

Upgrade your trading!

Get the stats behind the charts

Find out what happened when Transurban Group NPV traded like this in the past. See the odds for each technical pattern with expected gain and loss.

Find out more
Top Movers
You have free reports remaining. Subscribe for unlimited access...SUBSCRIBELOGINGO!