WPL.AX pushes through prior session high
Woodside Petroleum Ltd (WPL.AX) Technical Analysis Report for Apr 17, 2018 | by Techniquant Editorial Team
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.
Daily Candlestick Chart (WPL.AX as at Apr 17, 2018):
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.