TGR.AX stuck within tight trading range


Tassal Group Limited (TGR.AX) Technical Analysis Report for Sep 14, 2018 | by Techniquant Editorial Team

Highlights

TGR.AX finds buyers again around 4.23
TGR.AX stuck within tight trading range
TGR.AX closes within previous day's range after lackluster session
TGR.AX ends the day indecisive

Overview

TGR.AX ended the week -0.92% lower at 4.30 after losing A$0.01 (-0.23%) today. Closing within the prior day's range, prices failed to decisively move past the previous day's trading range in a lackluster session. Ending the day with an indecisive close, neither buyers nor sellers were able to gain control during the session.

Daily Candlestick Chart (TGR.AX as at Sep 14, 2018):

Daily technical analysis candlestick chart for Tassal Group Limited (TGR.AX) as at Sep 14, 2018

Friday's trading range was A$0.07 (1.63%), that's below last trading month's daily average range of A$0.09. Things look different on a weekly scale, where volatility is below the markets average with the monthly volatility being slightly below average. Prices continued to consolidate within a tight trading range between 4.23 and 4.33 which it has been in now for the last three days.

Prices are trading close to the key resistance level at 4.33. After having been unable to move lower than 4.23 in the prior session, Tassal Group found buyers again around the same price level today at 4.23.

While the stock is currently in a short-term down trend, this might just be a correction, as the medium and long term trends are both positive.

Buying could accelerate should prices move above the nearby swing high at 4.39 where further buy stops might get activated. Further selling could move prices lower should the market test August's close-by low at 4.13.


Market Conditions for TGR.AX as at Sep 14, 2018

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