Cover-More Group Ltd (ASX:CVO) Heffx Technical Analysis
Overall, the bias in prices is: Upwards.
Short term: Prices are stalling.
Intermediate term: Prices are trending.
The projected upper bound is: 2.17.
The projected lower bound is: 1.70.
The projected closing price is: 1.93.
During the past 10 bars, there have been 0 white candles and 2 black candles for a net of 2 black candles. During the past 50 bars, there have been 11 white candles and 18 black candles for a net of 7 black candles.
A gravestone doji occurred. This often signifies a top (the longer the upper shadow, the more bearish the signal).
A long upper shadow occurred. This is typically a bearish signal (particularly when it occurs near a high price level, at resistance level, or when the security is overbought).
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 22.2222. This is not an overbought or oversold reading. The last signal was a buy 17 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 64.22. 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 12 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 52. This is not a topping or bottoming area. 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 34 period(s) ago.
Rex Takasugi – TD Profile
COVERMORE FPO closed up 0.005 at 1.920. Volume was 50% below average (consolidating) and Bollinger Bands were 94% narrower than normal.
Open High Low Close Volume___
1.920 1.930 1.920 1.920 1,441,291
Short Term: Neutral
Intermediate Term: Bearish
Long Term: Bullish
Moving Averages: 10-period 50-period 200-period
Close: 1.92 1.88 1.49
Volatility: 2 94 66
Volume: 3,427,208 4,374,431 2,575,199
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.
COVERMORE FPO is currently 28.9% above 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 CVO.AX at a relatively equal pace (neutral). Our trend forecasting oscillators are currently bearish on CVO.AX and have had this outlook for the last 17 periods.
We are aware of the heightened political tensions globally, these must be monitored daily to protect your portfolio.