Macquarie Group Ltd (ASX:MQG) Mildly Bearish
Overall, the bias in prices is: Downwards.
Short term: Prices are stalling.
Intermediate term: Prices are ranging.
Note: this chart shows extraordinary price action to the downside.
The projected upper bound is: 85.06.
The projected lower bound is: 80.37.
The projected closing price is: 82.72.
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 26 black candles for a net of 2 black candles.
A falling window occurred (where the bottom of the previous shadow is above the top of the current shadow). This usually implies a continuation of a bearish trend. There have been 3 falling windows in the last 50 candles–this makes the current falling window even more bearish. The two candles preceding the falling window were black, which makes this pattern even more bearish.
A long lower shadow occurred. This is typically a bullish signal (particularly when it occurs near a low price level, at a support level, or when the security is oversold).
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 27.1982. This is not an overbought or oversold reading. The last signal was a buy 0 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 36.73. 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 buy 59 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 -294.This is an oversold reading. However, a signal isn’t generated until the indicator crosses above -100. The last signal was a buy 1 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 27 period(s) ago.
Rex Takasugi – TD Profile
MACQUARIE GROUP closed down -1.190 at 82.750. Volume was 32% above average (neutral) and Bollinger Bands were 25% narrower than normal.
Open High Low Close Volume___
82.460 82.820 81.100 82.750 1,431,756
Short Term: Neutral
Intermediate Term: Bearish
Long Term: Bullish
Moving Averages: 10-period 50-period 200-period
Close: 84.15 85.54 78.49
Volatility: 18 18 30
Volume: 929,516 975,229 1,268,663
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.
MACQUARIE GROUP gapped down today (bearish) 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.
MACQUARIE GROUP is currently 5.4% 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 moderate flows of volume out of MQG.AX (mildly bearish). Our trend forecasting oscillators are currently bearish on MQG.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.
Latest posts by HEFFX Australia (see all)
- Alibaba Group Holding Limited (NYSE:BABA) Stock Overbought - April 23, 2018
- Twitter, Inc. (NYSE:TWTR) Trending Downwards - April 23, 2018
- Apple Inc. (NASDAQ:AAPL) Continuation of a Downward Trend - April 23, 2018