VVR.AX breaks below 20-day moving average

Viva Energy REIT Stapled Securities (VVR.AX) Technical Analysis Report for Jul 13, 2018

Highlights

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

TQ Sentiment

Report Sentiment:
75% Bearish
Technical Forecast:
TQ Pro Only
See the overall Technical Analysis forecast for today.

Overview

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

Daily chart for VVR.AX

Volatility

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.

Price Action

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

Support/Resistance

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.

Trend

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.

Order Flow

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.

Conclusion

While classical technical analysis indicates a bearish sentiment for the next trading day, our quantitative statistics show a different picture being neutral.

Market Conditions for Viva Energy REIT Stapled Securities

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