Alumina Limited (ASX:AWC) Trending Upwards

Alumina Limited (ASX:AWC) Trending Upwards

Alumina Limited (ASX:AWC) Trending Upwards

Overall, the bias in prices is: Upwards.

Short term: Prices are moving.

Intermediate term: Prices are trending.

Note: this chart shows extraordinary price action to the upside.

By the way, prices are vulnerable to a correction towards 1.39.

The projected upper bound is: 1.56.

The projected lower bound is: 1.38.

The projected closing price is: 1.47.

Alumina Limited

Candlesticks

A white body occurred (because prices closed higher than they opened).
During the past 10 bars, there have been 6 white candles and 1 black candles for a net of 5 white candles. During the past 50 bars, there have been 23 white candles and 20 black candles for a net of 3 white candles.

Three white candles occurred in the last three days. Although these candles were not big enough to create three white soldiers, the steady upward pattern is bullish.

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 68.1819. This is not an overbought or oversold reading. The last signal was a sell 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 62.05. 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 112 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 102.This is an overbought reading. However, a signal isn’t generated until the indicator crosses below 100. The last signal was a sell 4 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 buy 12 period(s) ago.

Rex Takasugi – TD Profile

ALUMINA FPO closed up 0.010 at 1.470. Volume was 66% below average (consolidating) and Bollinger Bands were 27% wider than normal.

Open High Low Close Volume___
1.460 1.480 1.450 1.470 3,403,584

Technical Outlook
Short Term: Overbought
Intermediate Term: Bullish
Long Term: Bullish

Moving Averages: 10-period 50-period 200-period
Close: 1.44 1.38 1.32
Volatility: 29 40 50
Volume: 7,486,579 9,642,021 12,505,973

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
ALUMINA FPO is currently 11.6% above its 200-period moving average and is in an upward trend. Volatility is extremely low when compared to the average volatility over the last 10 periods. There is a good possibility that there will be an increase in volatility along with sharp price fluctuations in the near future. Our volume indicators reflect volume flowing into and out of AWC.AX at a relatively equal pace (neutral). Our trend forecasting oscillators are currently bullish on AWC.AX and have had this outlook for the last 11 periods. The security price has set a new 14-period high while our momentum oscillator has not. This is a bearish divergence.

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