VCX.AX ends the day on a bearish note closing near the low of the day
Vicinity Limited (VCX.AX) Technical Analysis Report for Sep 14, 2018 | by Techniquant Editorial Team
VCX.AX ended the week -0.37% lower at 2.72 after losing A$0.01 (-0.37%) today on low volume. Closing within the previous day's range, prices failed to decisively move past the prior day's trading range in a lackluster session. Ending with a weak close near the low of the day sets a bearish note for the next session.
Daily Candlestick Chart (VCX.AX as at Sep 14, 2018):
Friday's trading range was A$0.02 (0.74%), that's far below last trading month's daily average range of A$0.04. Things look different on a weekly scale, where volatility is below the markets average with the monthly volatility being slightly below average.
During the whole day, prices traded within the previous day's range, unable to trade above the prior day's high or below the previous day's low forming an Inside Bar.
Although the market is currently in a short-term down trend, this could just be a correction, as the medium and long term trends are both positive.
Buying might speed up should prices move above the nearby swing high at 2.76 where further buy stops could get triggered. Selling might accelerate should prices move below the close-by swing low at 2.68 where further sell stops could get activated.