Freelancer Ltd (ASX:FLN) Heffx Trading Outlook
Overall, the bias in prices is: Sideways.
Short term: Prices are stalling.
Intermediate term: Prices are trending.
The projected upper bound is: 1.24.
The projected lower bound is: 1.06.
The projected closing price is: 1.15.
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 3 white candles and 7 black candles for a net of 4 black candles. During the past 50 bars, there have been 10 white candles and 34 black candles for a net of 24 black candles.
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 92.5926. This is an overbought reading. However, a signal is not generated until the Oscillator crosses below 80 The last signal was a buy 3 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 70.76. This is where it usually tops. The RSI usually forms tops and bottoms before the underlying security. A buy or sell signal is generated when the RSI moves out of an overbought/oversold area. The last signal was a buy 25 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 271.This is an overbought reading. However, a signal isn’t generated until the indicator crosses below 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 buy 30 period(s) ago.
Rex Takasugi – TD Profile
FREELANCER FPO closed up 0.075 at 1.150. Volume was 14% above average (neutral) and Bollinger Bands were 32% narrower than normal.
Open High Low Close Volume___
1.070 1.155 1.070 1.150 111,804
Short Term: Neutral
Intermediate Term: Bullish
Long Term: Bearish
Moving Averages: 10-period 50-period 200-period
Close: 1.03 1.07 1.42
Volatility: 50 54 51
Volume: 47,870 110,119 139,078
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.
FREELANCER FPO is currently 19.1% below its 200-period moving average and is in an upward trend. Volatility is extremely high when compared to the average volatility over the last 10 periods. There is a good possibility that volatility will decrease and prices will stabilize in the near term. Our volume indicators reflect volume flowing into and out of FLN.AX at a relatively equal pace (neutral). Our trend forecasting oscillators are currently bullish on FLN.AX and have had this outlook for the last 18 periods. Our momentum oscillator is currently indicating that FLN.AX is currently in an overbought condition.
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