VCX.AX rallies 2.42% closing A$0.06 higher


Vicinity Limited (VCX.AX) Technical Analysis Report for May 18, 2018 [< 1 min read]
Highlights
VCX.AX rallies 2.42% closing A$0.06 higher
VCX.AX dominated by bulls lifting the market higher throughout the day
VCX.AX pushes through 100-day moving average
VCX.AX ends the day on a bullish note closing near the high of the day
VCX.AX pushes through previous session high
TQ Sentiment
Report Sentiment: 83% Bullish
Technical Forecast:
Overview

VCX.AX ended the week -1.17% lower at 2.54 after surging A$0.06 (2.42%) today. This is the biggest single day gain in over two weeks. The bulls were in full control today, moving the market higher throughout the whole session. Closing above Thursday's high at 2.52, the stock confirms its breakout through the previous session's high having traded A$0.02 above it intraday. Ending with a strong close near the high of the day sets a bullish note for the next session.

Daily chart for VCX.AX
Volatility

Friday's trading range was A$0.04 (1.6%), that's slightly 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

While still in a long-term downtrend, the short and medium-term trends both turned bullish already. The share managed to break above the 100-day moving average at 2.54 today for the first time since May 9th.

Order Flow

Buying could accelerate should prices move above the close-by swing high at 2.55 where further buy stops might get activated.

Conclusion

Even though both sentiments are bullish for the next trading day, our quantitative statistics are only slightly bullish while the classical technical analysis metrics show a very bullish sentiment.

Market Conditions for Vicinity Limited
ConditionForecastDirectionWinAvgWorstBestEvents
Close to Swing Low TQ Pro Members Only
Bullish Bounce off SMA 50 TQ Pro Members Only
Doji TQ Pro Members Only
Bearish Bounce off SMA 20 TQ Pro Members Only
Close to Swing High TQ Pro Members Only
More market conditions identified for TQ Pro members...
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