VCX.AX breaks below previous session low


Vicinity Limited (VCX.AX) Technical Analysis Report for Apr 17, 2018 [< 1 min read]
Highlights
VCX.AX closes below its opening price unable to hold early session gains
VCX.AX closes lower for the 4th day in a row
VCX.AX breaks below previous session low
VCX.AX falls to lowest close since December 15, 2015
VCX.AX ends the day indecisive
TQ Sentiment
Report Sentiment: 50% Bearish
Technical Forecast:
Overview

Moving lower for the 4th day in a row, VCX.AX ended Tuesday at 2.37 losing A$0.01 (-0.42%). Today's closing price of 2.37 marks the lowest close since December 15, 2015. Trading A$0.01 higher after the open, the share was unable to hold its gains as the bears took control ending the day below its opening price. Closing below Saturday's low at 2.38, the stock confirms its breakout through the prior session's low having traded A$0.02 below it intraday. Ending the day with an indecisive close, neither buyers nor sellers were able to gain control during the session.

Daily chart for VCX.AX
Volatility

Tuesday's trading range was A$0.03 (1.26%), that's below last trading month's daily average range of A$0.04. Things look different on a weekly scale, where volatility is slightly below the markets average with the monthly volatility being slightly above average.

Price Action

Despite a strong opening Vicinity Limited closed below the previous day's open and close, forming a bearish Engulfing Candle.

Trend

The trend is clearly bearish, showing an intact downtrend in the short, medium and long-term.

Conclusion

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

Market Conditions for Vicinity Limited
ConditionForecastDirectionWinAvgWorstBestEvents
Northern Doji TQ Pro Members Only
Tweezer Top TQ Pro Members Only
Close to Swing Low TQ Pro Members Only
High close to previous High TQ Pro Members Only
Bullish Bounce off SMA 50 TQ Pro Members Only
More market conditions identified for TQ Pro members...
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