Commonwealth Bank (ASX:CBA) Bears in Favor
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 74.97.
The projected upper bound is: 73.98.
The projected lower bound is: 69.49.
The projected closing price is: 71.73.
A black body occurred (because prices closed lower than they opened).
During the past 10 bars, there have been 2 white candles and 8 black candles for a net of 6 black candles. During the past 50 bars, there have been 18 white candles and 31 black candles for a net of 13 black candles.
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 37.2782. This is not an overbought or oversold reading. The last signal was a buy 1 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 38.16. 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 57 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 -74. This is not a topping or bottoming area. The last signal was a buy 1 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 24 period(s) ago.
Rex Takasugi – TD Profile
CWLTH BANK FPO closed down -0.550 at 71.760. Volume was 33% below average (neutral) and Bollinger Bands were 15% wider than normal.
Open High Low Close Volume___
72.470 72.470 71.610 71.760 2,054,767
Short Term: Neutral
Intermediate Term: Bearish
Long Term: Bearish
Moving Averages: 10-period 50-period 200-period
Close: 72.56 74.90 76.20
Volatility: 19 19 26
Volume: 3,178,691 3,007,552 3,127,250
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.
CWLTH BANK FPO is currently 5.8% below its 200-period moving average and is in an downward trend. Volatility is low as compared to the average volatility over the last 10 periods. Our volume indicators reflect moderate flows of volume out of CBA.AX (mildly bearish). Our trend forecasting oscillators are currently bearish on CBA.AX and have had this outlook for the last 14 periods.
Latest posts by HEFFX Australia (see all)
- Tassal Group Limited (ASX:TGR) Heffx Technical Analysis - January 18, 2017
- Perpetual Limited (ASX:PPT) Heffx Trading Outlook - January 18, 2017
- QBE Insurance Group Ltd (ASX:QBE) Share Price could go Higher for 2017 - January 18, 2017