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TLS.AX ends the day on a bullish note closing near the high of the day


Technical Analysis Report for TLS.AX - May 17, 2018 [< 1 min read]
Highlights
TLS.AX closes above its opening price after recovering from early selling pressure
TLS.AX ends the day on a bullish note closing near the high of the day
TLS.AX runs into sellers again around 2.87
TLS.AX closes within previous day's range after lackluster session
TQ Sentiment
Technical Forecast:
Overview

TLS.AX ended Thursday at 2.87 gaining A$0.01 (0.35%). Trading up to A$0.02 lower after the open, the share managed to reverse during the session as bulls took control ending the day above its opening price. Closing within the previous day's range, prices failed to decisively move beyond the prior day's trading range in a lackluster session. Ending with a strong close near the high of the day sets a bullish note for the next session.

Daily chart for TLS.AX
Volatility

Thursday's trading range was A$0.03 (1.05%), that's below last trading month's daily average range of A$0.06. Things look different on a weekly scale, where volatility is way above the markets average with the monthly volatility being way above average.

Price Action

During the whole day, prices traded within the previous day's range, unable to trade above the prior day's high or below the previous day's low forming an Inside Bar.

Support/Resistance

After having been unable to move above 2.88 in the prior session, the stock ran into sellers again around the same price level today, failing to move higher than 2.87.

Trend

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

Conclusion

While classical technical analysis indicates a neutral sentiment for the next trading day, our quantitative statistics show a different picture being bullish.

Report Market Conditions
ConditionForecastDirectionWinAvgWorstBest
High close to previous High TQ Pro Members Only
Bullish Intraday Reversal TQ Pro Members Only
Up Close near high of period TQ Pro Members Only
More market conditions identified for TQ Pro members...
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