VVR.AX breaks below 20-day moving average

Viva Energy REIT Stapled Securities (VVR.AX) Technical Analysis Report for Jul 13, 2018 | by Techniquant Editorial Team


VVR.AX runs into sellers around 2.22 for the third day in a row
VVR.AX breaks below 20-day moving average


VVR.AX finished the week -0.45% lower at 2.20 after losing A$0.01 (-0.45%) today on low volume.

Daily Candlestick Chart (VVR.AX as at Jul 13, 2018):

Daily technical analysis candlestick chart for Viva Energy REIT Stapled Securities (VVR.AX) as at Jul 13, 2018

Friday's trading range was A$0.04 (1.8%), that's above last trading month's daily average range of A$0.03. Things look different on a weekly scale, where volatility is way below the markets average with the monthly volatility being below average.

Despite a strong opening Viva Energy closed below the previous day's open and close, forming a bearish Engulfing Candle.

The market ran into sellers again today around 2.22 for the third trading day in a row after having found sellers at 2.22 in the prior session and at 2.22 two days ago.

Though the stock is currently in a short-term down trend, this could just be a correction, as the medium and long term trends are both positive. The share broke below the 20-day moving average at 2.21 today for the first time since May 25th.

Buying might speed up should prices move above the close-by swing high at 2.23 where further buy stops could get activated. With prices trading close to this year's high at 2.28, upside momentum might accelerate should VVR.AX be able to break out to new highs for the year.

Market Conditions for VVR.AX as at Jul 13, 2018

Loading Market Conditions for VVR.AX (Viva Energy REIT Stapled Securities)...
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VVR.AX finds buyers at key support level

Mar 20, 2019
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