EVOLUTION FPO (ASX:EVN) Heffx Technical Analysis with Candlesticks

EVOLUTION FPO (ASX:EVN) Heffx Technical Analysis with Candlesticks

EVOLUTION FPO (ASX:EVN) Heffx Technical Analysis with Candlesticks

Overall, the bias in prices is: Sideways.

Short term: Prices are stalling.

Intermediate term: Prices are trending.

By the way, prices are vulnerable to a correction towards 2.35.

The projected upper bound is: 2.63.

The projected lower bound is: 2.10.

The projected closing price is: 2.36.

EVOLUTION FPO

Candlesticks

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 20 white candles and 27 black candles for a net of 7 black candles.

A rising window occurred (where the top of the previous shadow is below the bottom of the current shadow). This usually implies a continuation of a bullish trend. There have been 7 rising windows in the last 50 candles–this makes the current rising window even more bullish.

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 71.6667. This is not an overbought or oversold reading. The last signal was a buy 5 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 52.56. 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 69 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 62. This is not a topping or bottoming area. The last signal was a buy 5 period(s) ago.

MACD

The Moving Average Convergence/Divergence indicator (MACD) gives signals when it crosses its 9 period signal line. The last signal was a buy 0 period(s) ago.

Rex Takasugi – TD Profile

EVOLUTION FPO closed up 0.130 at 2.370. Volume was 27% above average (neutral) and Bollinger Bands were 4% wider than normal.

Open High Low Close Volume___
2.330 2.390 2.310 2.370 10,993,808

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

Moving Averages: 10-period 50-period 200-period
Close: 2.21 2.40 2.09
Volatility: 58 71 75
Volume: 7,712,247 7,929,331 9,928,571

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

EVOLUTION FPO gapped up today (bullish) 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.
EVOLUTION FPO is currently 13.6% above its 200-period moving average and is in an downward trend. Volatility is Our volume indicators reflect volume flowing into and out of EVN.AX at a relatively equal pace (neutral). Our trend forecasting oscillators are currently bearish on EVN.AX and have had this outlook for the last 6 periods.

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