WTC.AX dominated by bulls lifting the market higher throughout the day


Wisetech Global Limited (WTC.AX) Technical Analysis Report for Jul 13, 2018 [< 1 min read]
Highlights
WTC.AX dominated by bulls lifting the market higher throughout the day
WTC.AX closes higher for the 2nd day in a row
WTC.AX ends the day on a bullish note closing near the high of the day
WTC.AX pushes through previous session high
WTC.AX rises to highest close since Inception
TQ Sentiment
Report Sentiment: 60% Bullish
Technical Forecast:
Overview

Moving higher for the 2nd day in a row, WTC.AX ended the week 9.01% higher at 17.90 after surging A$0.81 (4.74%) today. Today's closing price of 17.90 marks the highest close since Inception. The bulls were in full control today, moving the market higher throughout the whole session. Closing above Thursday's high at 17.14, the share confirms its breakout through the prior session's high having traded A$0.87 above it intraday. Ending with a strong close near the high of the day sets a bullish note for the next session.

Daily chart for WTC.AX
Volatility

Friday's trading range was A$1.01 (5.94%), that's far above last trading month's daily average range of A$0.64. Weekly volatility is also higher, being above the markets average with the monthly volatility being slightly below average.

Trend

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

Conclusion

Both sentiments, the classical technical analysis and our quantitative statistics are in perfect alignment today showing a slightly bullish sentiment for the next trading day.

Market Conditions for Wisetech Global Limited
ConditionForecastDirectionWinAvgWorstBestEvents
Northern Doji TQ Pro Members Only
RSI(2) above 80 TQ Pro Members Only
Doji TQ Pro Members Only
Bearish Hikkake Pattern TQ Pro Members Only
Bullish Intraday Reversal TQ Pro Members Only
More market conditions identified for TQ Pro members...
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