VVR.AX closes above its opening price after recovering from early selling pressure
Moving higher for the 3rd day in a row, VVR.AX finished Thursday at 2.11 surging A$0.02 (0.96%). This is the biggest single day gain in over two days. Today's closing price of 2.11 marks the highest close since January 30th. Trading up to A$0.02 lower after the open, the share managed to reverse during the session as bulls took control ending the day above its opening price. Closing above Wednesday's high at 2.10, the stock confirms its breakout through the prior session's high having traded A$0.02 above it intraday. Ending the day with an indecisive close, neither buyers nor sellers were able to gain control during the session.
Thursday's trading range was A$0.04 (1.9%), that's far above last trading month's daily average range of A$0.02. Weekly volatility is also higher, being above the markets average with the monthly volatility being slightly above average.
After trading as low as 2.08 during the day, Viva Energy found support at the 200-day moving average at 2.10.
While still in a long-term downtrend, the short and medium-term trends both turned bullish already. The market managed to break above the 200-day moving average at 2.10 today for the first time since January 4th.
While classical technical analysis indicates a slightly bullish sentiment for the next trading day, our quantitative statistics show a different picture being bearish.
Market Conditions for Viva Energy REIT Stapled Securities
|Low close to previous low||TQ Pro Members Only|
|Doji||TQ Pro Members Only|
|High close to previous High||TQ Pro Members Only|
|Last Engulfing Bottom Pattern||TQ Pro Members Only|
|Bearish Engulfing Candle||TQ Pro Members Only|
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