TWE.AX pushes through prior session high
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.
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.
After trading as low as 17.30 during the day, the stock found support at the 100-day moving average at 17.40.
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.
Selling could speed up should prices move below the close-by swing low at 17.08 where further sell stops might get triggered.
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
|Close to R1 Resistance||TQ Pro Members Only|
|White Candle||TQ Pro Members Only|
|Low close to previous low||TQ Pro Members Only|
|Bullish Break through SMA 20||TQ Pro Members Only|
|Closed above last periods high||TQ Pro Members Only|
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