VCX.AX closes within previous day's range
Vicinity Limited (VCX.AX) Technical Analysis Report for Aug 10, 2018 | by Techniquant Editorial Team
VCX.AX ended the week 4.15% higher at 2.76 after losing A$0.03 (-1.08%) today on low volume. Closing within the prior day's range, prices failed to decisively move beyond the previous day's trading range.
Daily Candlestick Chart (VCX.AX as at Aug 10, 2018):
Friday's trading range was A$0.04 (1.44%), that's slightly above last trading month's daily average range of A$0.04. Weekly volatility is also higher, being way above the markets average with the monthly volatility being above average. Prices continued to consolidate within a tight trading range between 2.73 and 2.79 which it has been in now for the last three days.
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.
Prices are trading close to the key resistance level at 2.79.
The trend is clearly bullish, showing an intact uptrend in the short, medium and long-term.
Buying could speed up should prices move above the nearby swing high at 2.79 where further buy stops might get activated. Selling could accelerate should prices move below the close-by swing low at 2.73 where further sell stops might get triggered.
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