Eden Energy (ASX:EDE) Heffx Trading Outlook
Overall, the bias in prices is: Upwards.
Short term: Prices are stalling.
Intermediate term: Prices are trending.
The projected upper bound is: 0.26.
The projected lower bound is: 0.18.
The projected closing price is: 0.22.
A big white candle occurred. This is generally considered bullish, as prices closed significantly higher than they opened. If the candle appears when prices are “low,” it may be the first sign of a bottom. If it occurs when prices are rebounding off of a support area (e.g., a moving average, trendline, or retracement level), the long white candle adds credibility to the support. Similarly, if the candle appears during a breakout above a resistance area, the long white candle adds credibility to the breakout.
During the past 10 bars, there have been 1 white candles and 6 black candles for a net of 5 black candles. During the past 50 bars, there have been 10 white candles and 30 black candles for a net of 20 black candles.
Separating lines occurred. If the lines occur during an uptrend and the first line is black and the second is white (which is the case with EDENENERGY FPO) then this suggests that the uptrend should continue.
If the separating lines occur during a downtrend (which appears to be the case with EDENENERGY FPO) and the first line is white and the second is black (which is not the case with EDENENERGY FPO) then this suggests that the downtrend should continue.
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 55.8824. 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 53.04. 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 112 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 39. 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 12 period(s) ago.
Rex Takasugi – TD Profile
EDENENERGY FPO closed up 0.020 at 0.220. Volume was 63% above average (neutral) and Bollinger Bands were 31% narrower than normal.
Open High Low Close Volume___
0.205 0.225 0.205 0.220 5,436,541
Short Term: Neutral
Intermediate Term: Bearish
Long Term: Bullish
Moving Averages: 10-period 50-period 200-period
Close: 0.21 0.21 0.17
Volatility: 70 107 142
Volume: 2,220,384 2,946,641 4,555,949
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.
EDENENERGY FPO is currently 32.1% above its 200-period moving average and is in an downward trend. Volatility is extremely low when compared to the average volatility over the last 10 periods. There is a good possibility that there will be an increase in volatility along with sharp price fluctuations in the near future. Our volume indicators reflect moderate flows of volume out of EDE.AX (mildly bearish). Our trend forecasting oscillators are currently bearish on EDE.AX and have had this outlook for the last 4 periods. Our momentum oscillator has set a new 14-period high while the security price has not. This is a bullish divergence.