WPL.AX slides to lowest close since July 5th
Woodside Petroleum Ltd (WPL.AX) Technical Analysis Report for Jul 13, 2018 | by Techniquant Editorial Team
Moving lower for the 3rd day in a row, WPL.AX finished the week -0.7% lower at 35.63 after losing A$0.19 (-0.53%) today. Today's closing price of 35.63 marks the lowest close since July 5th. Closing within the prior day's range, prices failed to decisively move past the previous day's trading range. Ending the day with an indecisive close, neither buyers nor sellers were able to gain control during the session.
Daily Candlestick Chart (WPL.AX as at Jul 13, 2018):
Friday's trading range was A$0.38 (1.07%), that's slightly below last trading month's daily average range of A$0.46. Things look different on a weekly scale, where volatility is slightly above the markets average with the monthly volatility being slightly below average.
After having been unable to move above 35.85 in the prior session, the share ran into sellers again around the same price level today, failing to move higher than 35.87.
The trend is clearly bullish, showing an intact uptrend in the short, medium and long-term.
Selling could accelerate should prices move below the nearby swing low at 35.05 where further sell stops might get triggered.