VCX.AX breaks below 20-day moving average


Vicinity Limited (VCX.AX) Technical Analysis Report for May 17, 2018 [< 1 min read]
Highlights
VCX.AX breaks below 20-day moving average
VCX.AX closes lower for the 3rd day in a row
VCX.AX breaks below previous session low
VCX.AX falls to lowest close since May 1st
TQ Sentiment
Report Sentiment: 50% Bearish
Technical Forecast:
Overview

Moving lower for the 3rd day in a row, VCX.AX ended Thursday at 2.48 losing A$0.03 (-1.2%). Today's closing price of 2.48 marks the lowest close since May 1st. Closing below Wednesday's low at 2.51, the market confirms its breakout through the previous session's low having traded A$0.05 below it intraday.

Daily chart for VCX.AX
Volatility

Thursday's trading range was A$0.06 (2.39%), that's far above last trading month's daily average range of A$0.03. Weekly volatility is also higher, being way above the markets average with the monthly volatility being above average.

Trend

The share shows weakness in the short-term (in accordance with its long-term downtrend) with only the medium-term trend being bullish. The stock broke below the 20-day moving average at 2.48 today for the first time since March 21st.

Order Flow

As prices are trading close to May's low at 2.43, downside momentum could speed up should Vicinity Limited mark new lows for the month.

Conclusion

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

Market Conditions for Vicinity Limited
ConditionForecastDirectionWinAvgWorstBestEvents
High close to previous High TQ Pro Members Only
2 Consecutive Higher Closes TQ Pro Members Only
Bullish Bounce off SMA 20 TQ Pro Members Only
Bullish Spinning Top TQ Pro Members Only
Bullish Intraday Reversal TQ Pro Members Only
More market conditions identified for TQ Pro members...
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