TWE.AX pushes through prior session high


Treasury Wine Estates Ltd (TWE.AX) Technical Analysis Report for Jun 14, 2018 [1 min read]
Highlights
TWE.AX closes above its opening price after recovering from early selling pressure
TWE.AX pushes through 100-day moving average
TWE.AX finds support at 100-day moving average
TWE.AX pushes through previous session high
TWE.AX rises to highest close since May 16th
TQ Sentiment
Technical Forecast:
Overview

TWE.AX ended Thursday at 17.55 gaining A$0.33 (1.92%). Today's closing price of 17.55 marks the highest close since May 16th. Trading up to A$0.15 lower after the open, the share managed to reverse during the session as bulls took control ending the day above its opening price. Closing above Wednesday's high at 17.45, the market confirms its breakout through the prior session's high having traded A$0.17 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 TWE.AX
Volatility

Thursday's trading range was A$0.32 (1.83%), that's below last trading month's daily average range of A$0.49. Things look different on a weekly scale, where volatility is way below the markets average with the monthly volatility being way below average.

Support/Resistance

After trading as low as 17.30 during the day, the stock found support at the 100-day moving average at 17.40.

Trend

The trend is clearly bullish, showing an intact uptrend in the short, medium and long-term. Treasury Wine managed to break above the 100-day moving average at 17.40 today for the first time since January 18th.

Order Flow

Selling could speed up should prices move below the close-by swing low at 17.08 where further sell stops might get triggered.

Conclusion

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

Market Conditions for Treasury Wine Estates Ltd
ConditionForecastDirectionWinAvgWorstBestEvents
Down Close Near Low of Period TQ Pro Members Only
Close to R1 Resistance TQ Pro Members Only
Closed below last periods low TQ Pro Members Only
Black Candle TQ Pro Members Only
Close near low of period TQ Pro Members Only
More market conditions identified for TQ Pro members...
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Latest Report:

TWE.AX breaks key support level

Jun 22, 2018
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