VCX.AX breaks below previous session low
Vicinity Limited (VCX.AX) Technical Analysis Report for Apr 17, 2018
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.
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.
Despite a strong opening Vicinity Limited closed below the previous day's open and close, forming a bearish Engulfing Candle.
The trend is clearly bearish, showing an intact downtrend in the short, medium and long-term.
While classical technical analysis indicates a neutral sentiment for the next trading day, our quantitative statistics show a different picture being slightly bearish.
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