VVR.AX closes above its opening price after recovering from early selling pressure


Viva Energy REIT Stapled Securities (VVR.AX) Technical Analysis Report for Jun 14, 2018 [1 min read]
Highlights
VVR.AX rallies 0.96% closing A$0.02 higher
VVR.AX closes above its opening price after recovering from early selling pressure
VVR.AX pushes through 200-day moving average
VVR.AX finds support at 200-day moving average
VVR.AX closes higher for the 3rd day in a row
TQ Sentiment
Report Sentiment: 62% Bullish
Technical Forecast:
Overview

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.

Daily chart for VVR.AX
Volatility

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.

Support/Resistance

After trading as low as 2.08 during the day, Viva Energy found support at the 200-day moving average at 2.10.

Trend

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.

Conclusion

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
Condition Forecast Direction Win Avg Worst Best Events
Southern Doji TQ Pro Members Only
Down Close Near Low of Period TQ Pro Members Only
Doji TQ Pro Members Only
High close to previous High TQ Pro Members Only
Close near low of period TQ Pro Members Only
More market conditions identified for TQ Pro members...
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