WPL.AX pushes through prior session high
WPL.AX ended Tuesday at 30.52 gaining A$0.20 (0.66%). Today's closing price of 30.52 marks the highest close since February 8th. Closing above Saturday's high at 30.50, the market confirms its breakout through the prior session's high having traded A$0.25 above it intraday. Ending the day with an indecisive close, neither buyers nor sellers were able to gain control during the session.
Tuesday's trading range was A$0.37 (1.21%), that's slightly below last trading month's daily average range of A$0.42. Things look different on a weekly scale, where volatility is slightly below the markets average with the monthly volatility being above average.
Prices are trading close to a key support level at 30.28. After trading as low as 30.38 during the day, Woodside Petroleum found support at the 100-day moving average at 30.38.
The stock shows strength in the short-term supported by its long-term uptrend with only the medium-term trend being bearish. The share managed to break above the 100-day moving average at 30.38 today for the first time since April 12th.
Selling could speed up should prices move below the close-by swing low at 30.10 where further sell stops might get triggered.
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 Woodside Petroleum Ltd
|Bearish Bounce off SMA 50||TQ Pro Members Only|
|7 Consecutive Lower Closes||TQ Pro Members Only|
|Close near low of period||TQ Pro Members Only|
|Bullish Doji Star||TQ Pro Members Only|
|Doji||TQ Pro Members Only|
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