WPL.AX closes within previous day's range after lackluster session

Woodside Petroleum Ltd (WPL.AX) Technical Analysis Report for Sep 14, 2018

Highlights

WPL.AX dominated by bulls lifting the market higher throughout the day
WPL.AX closes higher for the 5th day in a row
WPL.AX finds buyers again around 36.65
WPL.AX rises to highest close since August 30th
WPL.AX closes within previous day's range after lackluster session

TQ Sentiment

Report Sentiment: 37% Bullish
Technical Forecast:

Overview

Moving higher for the 5th day in a row, WPL.AX finished the week 4.62% higher at 36.91 after gaining A$0.16 (0.44%) today. Today's closing price of 36.91 marks the highest close since August 30th. The bulls were in full control today, moving the market higher throughout the whole session. Closing within the previous day's range, prices failed to decisively move beyond the prior day's trading range in a lackluster session.

Daily chart for WPL.AX

Volatility

Friday's trading range was A$0.38 (1.04%), that's below last trading month's daily average range of A$0.54. Things look different on a weekly scale, where volatility is above the markets average with the monthly volatility being slightly above average.

Support/Resistance

Prices are trading close to a key support level at 36.46. Prices are trading close to the key resistance level at 37.14. After having been unable to move lower than 36.67 in the previous session, the stock found buyers again around the same price level today at 36.65.

Trend

The trend is clearly bullish, showing an intact uptrend in the short, medium and long-term.

Order Flow

Buying might speed up should prices move above the nearby swing high at 37.14 where further buy stops could get triggered. With prices trading close to this year's high at 37.82, upside momentum might accelerate should Woodside Petroleum be able to break out to new highs for the year.

Conclusion

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

Market Conditions for Woodside Petroleum Ltd

Loading Market Conditions for $WPL.AX (Woodside Petroleum Ltd)...
Latest Report:

WPL.AX closes within prior day's range

Sep 21, 2018
Trending Assets

Upgrade your trading!

Get the stats behind the charts

Find out what happened when Woodside Petroleum Ltd traded like this in the past. See the odds for each technical pattern with expected gain and loss.

Find out more
Top Market Movers

Related Stocks

BPT.AX 10 day candlestick chart for BPT.AX 1.90 0.00 (0.00%)
CTX.AX 10 day candlestick chart for CTX.AX 29.33 0.09 (0.31%)
ORG.AX 10 day candlestick chart for ORG.AX 7.96 0.03 (0.38%)
OSH.AX 10 day candlestick chart for OSH.AX 8.61 -0.06 (-0.69%)
STO.AX 10 day candlestick chart for STO.AX 7.01 -0.07 (-0.99%)
WOR.AX 10 day candlestick chart for WOR.AX 19.65 -0.39 (-1.95%)
You have free reports remaining. Subscribe for unlimited access...SUBSCRIBELOGINGO!