Commonwealth Bank of Australia (ASX:CBA) HEFFX Outlook
HEFFX Notes Commonwealth Bank of Australia
Overall, the bias in prices is: Downwards.
Short term: Prices are moving.
Intermediate term: Prices are ranging.
Note: this chart shows extraordinary price action to the downside.
By the way, prices are vulnerable to a correction towards 75.39.
The projected upper bound is: 74.11.
The projected lower bound is: 69.38.
The projected closing price is: 71.74.
CWLTH BANK FPO closed down -1.090 at 71.810. Volume was 104% above average (neutral) and Bollinger Bands were 19% wider than normal.
Open High Low Close Volume
72.530 72.610 71.685 71.810 6,289,559
Short Term: Oversold
Intermediate Term: Bearish
Long Term: Bearish
Moving Averages: 10-period 50-period 200-period
Close: 73.26 75.04 76.31
Volatility: 16 20 26
Volume: 3,239,921 3,139,312 3,130,065
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 Commonwealth Bank of Australia
CWLTH BANK FPO gapped down today (bearish) on normal volume. Possibility of a Runaway Gap which usually signifies a continuation of the trend. Four types of price gaps exist – Common, Breakaway, Runaway, and Exhaustion. Gaps acts as support/resistance.
CWLTH BANK FPO is currently 5.9% 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 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 10 periods.
HEFFX Candlesticks Commonwealth Bank of Australia
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 19 white candles and 30 black candles for a net of 11 black candles.
A falling window occurred (where the bottom of the previous shadow is above the top of the current shadow). This usually implies a continuation of a bearish trend. There have been 6 falling windows in the last 50 candles–this makes the current falling window even more bearish. The two candles preceding the falling window were black, which makes this pattern even more bearish.
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.
HEFFX Momentum Commonwealth Bank of Australia
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 9.7315. This is an oversold reading. However, a signal is not generated until the Oscillator crosses above 20 The last signal was a buy 6 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 33.72. 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 53 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 -132.This is an oversold reading. However, a signal isn’t generated until the indicator crosses above -100. The last signal was a buy 6 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 20 period(s) ago.
Commonwealth Bank of Australia is an Australia-based financial services company. The Company is engaged in the provision of integrated financial services, including retail, funds management, superannuation, business and institutional banking, insurance, investment and share-broking products and services. The Company operates through seven segments: Retail Banking Services, which provides home loan, consumer finance, and retail deposit products and servicing; Business and Private Banking, which provides specialized banking services to relationship managed business and agribusiness customers, private banking to high net worth individuals, and margin lending and trading through Commonwealth Securities (CommSec); Institutional Banking and Markets, which offers debt and equity capital raising, financial and commodities price risk management, and transactional banking; Wealth Management; New Zealand; Bankwest, and International Financial Services (IFS) and Other Divisions.