Aconex (ASX:ACX) Heffx Trading Outlook
Overall, the bias in prices is: Downwards.
Short term: Prices are moving.
Intermediate term: Prices are trending.
Note: this chart shows extraordinary price action to the downside.
By the way, prices are vulnerable to a correction towards 7.01.
The projected upper bound is: 6.50.
The projected lower bound is: 5.35.
The projected closing price is: 5.93.
A white body occurred (because prices closed higher than they opened).
During the past 10 bars, there have been 3 white candles and 7 black candles for a net of 4 black candles. During the past 50 bars, there have been 13 white candles and 37 black candles for a net of 24 black candles.
A rising window occurred (where the top of the previous shadow is below the bottom of the current shadow). This usually implies a continuation of a bullish trend.
Momentum is a general term used to describe the speed at which prices move over a given time period. Generally, changes in momentum tend to lead to changes in prices. This expert shows the current values of four popular momentum indicators.
One method of interpreting the Stochastic Oscillator is looking for overbought areas (above 80) and oversold areas (below 20). The Stochastic Oscillator is 21.5311. This is not an overbought or oversold reading. The last signal was a buy 0 period(s) ago.
Relative Strength Index (RSI)
The RSI shows overbought (above 70) and oversold (below 30) areas. The current value of the RSI is 34.62. This is not a topping or bottoming area. However, the RSI just crossed above 30 from a bottoming formation. This is a bullish sign. A buy or sell signal is generated when the RSI moves out of an overbought/oversold area. The last signal was a buy 0 period(s) ago.
Commodity Channel Index (CCI)
The CCI shows overbought (above 100) and oversold (below -100) areas. The current value of the CCI is -94. This is not a topping or bottoming area. The last signal was a buy 0 period(s) ago.
The Moving Average Convergence/Divergence indicator (MACD) gives signals when it crosses its 9 period signal line. The last signal was a sell 40 period(s) ago.
Rex Takasugi – TD Profile
ACONEX FPO closed up 0.260 at 5.970. Volume was 138% above average (neutral) and Bollinger Bands were 86% wider than normal.
Open High Low Close Volume___
5.910 6.055 5.850 5.970 2,236,529
Short Term: Neutral
Intermediate Term: Bearish
Long Term: Bearish
Moving Averages: 10-period 50-period 200-period
Close: 6.21 7.50 6.12
Volatility: 72 52 55
Volume: 1,659,287 1,023,292 807,876
Short-term traders should pay closer attention to buy/sell arrows while intermediate/long-term traders should place greater emphasis on the Bullish or Bearish trend reflected in the lower ribbon.
ACONEX FPO gapped up today (bullish) on normal volume. Possibility of a Runaway Gap which usually signifies a continuation of the trend. Four types of price gaps exist – Common, Breakaway, Runaway, and Exhaustion. Gaps acts as support/resistance.
ACONEX FPO is currently 2.4% below its 200-period moving average and is in an downward trend. Volatility is high as compared to the average volatility over the last 10 periods. Our volume indicators reflect moderate flows of volume out of ACX.AX (mildly bearish). Our trend forecasting oscillators are currently bearish on ACX.AX and have had this outlook for the last 28 periods.
Latest posts by HEFFX Australia (see all)
- Cloud Peak Energy (NYSE:CLD) Heffx Trading Outlook - April 28, 2017
- Sirius XM Holdings (NASDAQ:SIRI) Gapped Down - April 28, 2017
- Honeywell International (NYSE:HON) Heffx Technical Analysis - April 28, 2017