TME.AX unable to break through key resistance level


Trade Me Group Foreign Exempt NZX (TME.AX) Technical Analysis Report for Jun 14, 2018 [1 min read]
Highlights
TME.AX finds buyers at key support level
TME.AX unable to break through key resistance level
TME.AX closes higher for the 4th day in a row
TME.AX pushes through previous session high
TME.AX rises to highest close since June 4th
TQ Sentiment
Technical Forecast:
Overview

Moving higher for the 4th day in a row, TME.AX ended Thursday at 4.50 gaining A$0.01 (0.22%). Today's closing price of 4.50 marks the highest close since June 4th. Closing above Wednesday's high at 4.49, the stock confirms its breakout through the prior session's high having traded A$0.05 above it intraday. Ending the day with an indecisive close, neither buyers nor sellers were able to gain control during the session.

Daily chart for TME.AX
Volatility

Thursday's trading range was A$0.06 (1.34%), that's slightly below last trading month's daily average range of A$0.07. Things look different on a weekly scale, where volatility is above the markets average with the monthly volatility being slightly below average.

Support/Resistance

After trading as low as 4.48 during the day, the market bounced off the key support level at 4.48. The failure to close below the support might increase that levels importance as support going forward. Unable to break through the key technical resistance level at 4.54, the share closed below it after spiking as high as 4.54 during the day. The failure to close above the resistance could increase that levels importance as resistance going forward.

Trend

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

Order Flow

Buying might accelerate should prices move above the nearby swing high at 4.54 where further buy stops could get activated.

Conclusion

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

Market Conditions for Trade Me Group Foreign Exempt NZX
ConditionForecastDirectionWinAvgWorstBestEvents
Close to R1 Resistance TQ Pro Members Only
Strong Up Move TQ Pro Members Only
Low close to previous low TQ Pro Members Only
Close to Swing High TQ Pro Members Only
Up Close near high of period TQ Pro Members Only
More market conditions identified for TQ Pro members...
Learn more about TQ Pro
Trending Assets

Upgrade your trading!

Get the stats behind the charts

Find out what happened when Trade Me Group Foreign Exempt NZX traded like this in the past. See the odds for each technical pattern with expected gain and loss.

Signup

Stocks Top Movers

CRUDE 65.800.46 0.70%
GBPUSD 1.32440.0076 0.58%
TBOND 143.9060.687 0.48%
NATGAS 2.9750.009 0.30%
EURUSD 1.16030.0027 0.23%
GOLD 1,269.0-1.0 -0.08%
DXY 94.405-0.310 -0.33%
USDJPY 109.97-0.39 -0.35%
BTCUSD 6,723.12-29.41 -0.44%
SPX 2,749.76-17.56 -0.63%
Start your day with the facts moving the markets
By clicking "Subscribe", you agree to our terms and privacy policy.

Related Stocks

ABBV 10 day candlestick chart for ABBV95.55 -2.70
-2.75%
ACN 10 day candlestick chart for ACN160.03 -1.74
-1.08%
ADBE 10 day candlestick chart for ADBE248.83 -2.41
-0.96%
AAP 10 day candlestick chart for AAP139.50 0.34
0.24%
AES 10 day candlestick chart for AES12.89 -0.04
-0.31%
AET 10 day candlestick chart for AET189.15 -1.08
-0.57%
AFL 10 day candlestick chart for AFL44.43 -0.29
-0.65%
AMG 10 day candlestick chart for AMG153.43 0.70
0.46%
A 10 day candlestick chart for A63.04 0.25
0.40%
ABT 10 day candlestick chart for ABT61.75 -0.39
-0.63%