CSR Limited (ASX:CSR) Upgraded at HEFFX

CSR Limited (ASX:CSR) Upgraded at HEFFX

CSR Limited (ASX:CSR) Upgraded at HEFFX


Price Target $4.50

Overall, the bias in prices is: Upwards.

Short term: Prices are stalling.

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 3.58.

The projected upper bound is: 4.13.

The projected lower bound is: 3.68.

The projected closing price is: 3.91.

CSR Limited (ASX:CSR) closed up 0.060 at 3.900. Volume was 35% below average (neutral) and Bollinger Bands were 27% narrower than normal.

Open High Low Close Volume___
3.860 3.930 3.850 3.900 1,799,207

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

Moving Averages: 10-period 50-period 200-period
Close: 3.88 3.67 3.17
Volatility: 32 39 39
Volume: 2,420,006 2,825,327 3,181,359

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.


CSR FPO is currently 23.1% above its 200-period moving average and is in an upward 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 CSR.AX at a relatively equal pace (neutral). Our trend forecasting oscillators are currently bullish on CSR.AX and have had this outlook for the last 30 periods.

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 41.1348. This is not an overbought or oversold reading. The last signal was a sell 12 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 57.15. 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 29 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 23. This is not a topping or bottoming area. The last signal was a buy 0 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 3 period(s) ago.


A white body occurred (because prices closed higher than they opened).
During the past 10 bars, there have been 4 white candles and 6 black candles for a net of 2 black candles. During the past 50 bars, there have been 24 white candles and 22 black candles for a net of 2 white candles.

Separating lines occurred. If the lines occur during an uptrend (which appears to be the case with CSR FPO) and the first line is black and the second is white (which is the case with CSR FPO) then this suggests that the uptrend should continue.

If the separating lines occur during a downtrend and the first line is white and the second is black (which is not the case with CSR FPO) then this suggests that the downtrend should continue.

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Shayne Heffernan Funds Manager at HEFFX holds a Ph.D. in Economics and brings with him over 25 years of trading experience in Asia and hands on experience in Venture Capital, he has been involved in several start ups that have seen market capitalization over $500m and 1 that reach a peak market cap of $15b. He has managed and overseen start ups in Mining, Shipping, Technology and Financial Services.

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