AGL Energy Ltd (ASX:AGL) Bearish Trend

AGL Energy Ltd (ASX:AGL) Bearish Trend

AGL Energy Ltd (ASX:AGL) Bearish Trend

Overall, the bias in prices is: Downwards.

Short term: Prices are stalling.

Intermediate term: Prices are ranging.

Candlesticks

A white body occurred (because prices closed higher than they opened).
During the past 10 bars, there have been 5 white candles and 4 black candles for a net of 1 white candles. During the past 50 bars, there have been 30 white candles and 18 black candles for a net of 12 white candles.

Separating lines occurred. If the lines occur during an uptrend and the first line is black and the second is white (which is the case with AGL ENERGY FPO) then this suggests that the uptrend should continue.

If the separating lines occur during a downtrend (which appears to be the case with AGL ENERGY FPO) and the first line is white and the second is black (which is not the case with AGL ENERGY FPO) then this suggests that the downtrend should continue.

Momentum Indicators

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.

Stochastic Oscillator

One method of interpreting the Stochastic Oscillator is looking for overbought areas (above 80) and oversold areas (below 20). The Stochastic Oscillator is 18.7097. This is an oversold reading. However, a signal is not generated until the Oscillator crosses above 20 The last signal was a buy 5 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 35.50. This is not a topping or bottoming area. A buy or sell signal is generated when the RSI moves out of an overbought/oversold area. The last signal was a sell 27 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 -95. This is not a topping or bottoming area. The last signal was a buy 7 period(s) ago.

MACD

The Moving Average Convergence/Divergence indicator (MACD) gives signals when it crosses its 9 period signal line. The last signal was a sell 22 period(s) ago.

Rex Takasugi – TD Profile

AGL ENERGY FPO closed up 0.060 at 18.810. Volume was 30% below average (neutral) and Bollinger Bands were 129% wider than normal.

Open High Low Close Volume___
18.760 18.890 18.720 18.810 1,484,259

Technical Outlook
Short Term: Oversold
Intermediate Term: Bearish
Long Term: Bullish

Moving Averages: 10-period 50-period 200-period
Close: 18.98 19.67 18.45
Volatility: 16 22 21
Volume: 2,091,071 2,319,047 2,010,363

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.

Summary

AGL ENERGY FPO is currently 1.9% above 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 AGL.AX (mildly bearish). Our trend forecasting oscillators are currently bearish on AGL.AX and have had this outlook for the last 11 periods.

Description

AGL Energy Limited is engaged in buying and selling of gas and electricity; construction and/or operation of power generation and energy processing infrastructure; development of natural gas production and storage facilities, and exploration, extraction, production and sale of natural gas. The Company operates in four segments: Retail Energy, Merchant Energy, Upstream Gas and Investments. Retail Energy sells natural gas, electricity and energy-related products and services to residential and small business customers. Merchant Energy develops, operates and maintains power generation assets. Upstream Gas invests in, and operates gas exploration, development and production tenements and develops and operates gas storage facilities. Investments include equity accounted investments in the ActewAGL Retail Partnership and Diamantina Holding Company Pty Limited.
The following two tabs change content below.
HEFFX has become one of Asia’s leading financial services companies with interests in Publishing, Private Equity, Capital Markets, Mining, Retail, Transport and Agriculture that span every continent of the world. Our clearing partners have unprecedented experience in Equities, Options, Forex and Commodities brokering, banking, physical metals dealing, floor brokering and trading.

Latest posts by HEFFX Australia (see all)

You must be logged in to post comments :  
CONNECT WITH