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


Vicinity Limited (VCX.AX) Technical Analysis Report for Jun 14, 2018 [1 min read]
Highlights
VCX.AX dominated by bulls lifting the market higher throughout the day
VCX.AX ends the day on a bullish note closing near the high of the day
VCX.AX stuck within tight trading range
VCX.AX closes within previous day's range after lackluster session
TQ Sentiment
Report Sentiment: 42% Bullish
Technical Forecast:
Overview

VCX.AX finished Thursday at 2.64 gaining A$0.01 (0.38%). The bulls were in full control today, moving the market higher throughout the whole session. Closing within the prior day's range, prices failed to decisively move past the previous 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 VCX.AX
Volatility

Thursday's trading range was A$0.03 (1.15%), that's far below last trading month's daily average range of A$0.05. Things look different on a weekly scale, where volatility is slightly below the markets average with the monthly volatility being slightly above average. Prices continued to consolidate within a tight trading range between 2.60 and 2.66 which it has been in now for the last three days.

Price Action

During the whole day, prices traded within the prior day's range, unable to trade above the previous day's high or below the prior day's low forming an Inside Bar. Even with a weak opening the stock managed to close above the previous day's open and close, forming a bullish Engulfing Candle.

Support/Resistance

Prices are trading close to the key resistance level at 2.65.

Trend

Vicinity Limited shows weakness in the short-term (in accordance with its long-term downtrend) with only the medium-term trend being bullish.

Conclusion

Both sentiments, the classical technical analysis and our quantitative statistics are in perfect alignment today showing a neutral sentiment for the next trading day.

Market Conditions for Vicinity Limited
Condition Forecast Direction Win Avg Worst Best Events
Close to R1 Resistance TQ Pro Members Only
Closed below last periods low TQ Pro Members Only
RSI(2) below 20 TQ Pro Members Only
Price broke through Technical Support S1 TQ Pro Members Only
More market conditions identified for TQ Pro members...
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Latest Report:

VCX.AX breaks key support level

Aug 15, 2018
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