Aconex Ltd (ASX:ACX) Prices are Trending Downwards
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.
The projected upper bound is: 5.23.
The projected lower bound is: 3.84.
The projected closing price is: 4.54.
A black body occurred (because prices closed lower 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 16 white candles and 34 black candles for a net of 18 black candles.
Three black candles occurred in the last three days. Although these candles were not big enough to create three black crows, the steady downward pattern is bearish.
Relative Strength Index
The current value for the 14 period RSI is 32.4834.
The RSI, written by J. Welles Wilder in 1978, can be used in several different ways to analyze a chart.
Tops and Bottoms
The RSI is not currently in a topping (above 70) or bottoming (below 30) range. A buy or sell signal is generated when the RSI moves out of an overbought/oversold area. The last signal was a Buy 16 period(s) Ago.
The RSI often forms chart patterns (such as head and shoulders or rising wedges) that may or may not be visible on the price chart. Since the analysis of chart patterns is subjective, the Expert Advisor cannot find them. You will have to visually inspect the RSI indicator to look for such patterns.
Failure Swings (also known as support or resistance penetrations or breakouts)
The RSI has just reached its lowest value in the last 14 period(s). This is bearish.
Support and Resistance
The RSI shows, sometimes more clearly than the price chart, levels of support and resistance. As with chart formations, this is subjective, so you must visually inspect the chart to determine this.
Rex Takasugi – TD Profile
ACONEX FPO closed down -0.270 at 4.570. Volume was 354% above average (trending) and Bollinger Bands were 8% narrower than normal.
Open High Low Close Volume___
4.920 4.930 4.370 4.570 6,781,768
Short Term: Oversold
Intermediate Term: Bearish
Long Term: Bearish
Moving Averages: 10-period 50-period 200-period
Close: 5.32 5.94 6.33
Volatility: 116 78 65
Volume: 2,294,498 1,873,858 1,181,704
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 is currently 27.8% below its 200-period moving average and is in an downward trend. Volatility is extremely high when compared to the average volatility over the last 10 periods. There is a good possibility that volatility will decrease and prices will stabilize in the near term. Our volume indicators reflect volume flowing into and out of ACX.AX at a relatively equal pace (neutral). Our trend forecasting oscillators are currently bearish on ACX.AX and have had this outlook for the last 19 periods.