VCX.AX rallies 2.42% closing A$0.06 higher
Vicinity Limited (VCX.AX) Technical Analysis Report for May 18, 2018 | by Techniquant Editorial Team
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 Candlestick Chart (VCX.AX as at May 18, 2018):
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.
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.
Buying could accelerate should prices move above the close-by swing high at 2.55 where further buy stops might get activated.