Caltex Australia Limited (ASX:CTX) Stock Remains in a Downward Trend

Caltex Australia Limited (ASX:CTX) Stock Remains in a Downward Trend

Caltex Australia Limited (ASX:CTX) Stock Remains in a Downward Trend

Overall, the bias in prices is: Sideways.

Short term: Prices are stalling.

Intermediate term: Prices are ranging.

By the way, prices are vulnerable to a correction towards 29.80.

The projected upper bound is: 30.61.

The projected lower bound is: 28.64.

The projected closing price is: 29.63.

Caltex Australia 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 4 black candles for a net of 2 white candles. During the past 50 bars, there have been 25 white candles and 24 black candles for a net of 1 white candles.

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 77.1812. This is not an overbought or oversold reading. The last signal was a buy 8 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 55.26. 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 buy 10 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 133.This is an overbought reading. However, a signal isn’t generated until the indicator crosses below 100. The last signal was a buy 9 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 3 period(s) ago.

Rex Takasugi – TD Profile

CALTEX FPO closed up 0.170 at 29.620. Volume was 18% below average (neutral) and Bollinger Bands were 21% narrower than normal.

Open High Low Close Volume___
29.460 29.720 29.230 29.620 901,076

Technical Outlook
Short Term: Neutral
Intermediate Term: Bearish
Long Term: Bearish

Moving Averages: 10-period 50-period 200-period
Close: 28.92 29.70 31.86
Volatility: 12 21 23
Volume: 819,438 969,101 1,105,448

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
CALTEX FPO is currently 7.0% below its 200-period moving average and is in an downward trend. Volatility is relatively normal as compared to the average volatility over the last 10 periods. Our volume indicators reflect volume flowing into and out of CTX.AX at a relatively equal pace (neutral). Our trend forecasting oscillators are currently bearish on CTX.AX and have had this outlook for the last 15 periods.

We are aware of the heightened political tensions globally, these must be monitored daily to protect your portfolio.

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