Magellan Financial Group (ASX:MFG) Heffx Trading Outlook
Overall, the bias in prices is: Downwards.
Short term: Prices are stalling.
Intermediate term: Prices are trending.
Note: this chart shows extraordinary price action to the downside.
By the way, prices are vulnerable to a correction towards 22.62.
The projected upper bound is: 22.88.
The projected lower bound is: 20.36.
The projected closing price is: 21.62.
A black body occurred (because prices closed lower than they opened).
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 16 white candles and 31 black candles for a net of 15 black candles.
Three black candles occurred in the last three days. Although these candles were not big enough to create three black crows, the steady downward pattern is bearish.
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 56.6879. This is not an overbought or oversold reading. The last signal was a buy 23 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 44.83. 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 48 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 -22. This is not a topping or bottoming area. The last signal was a buy 3 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 7 period(s) ago.
Rex Takasugi – TD Profile
MAG FINC FPO closed down -0.150 at 21.670. Volume was 95% below average (consolidating) and Bollinger Bands were 56% narrower than normal.
Open High Low Close Volume___
21.810 21.890 21.670 21.670 23,317
Short Term: Neutral
Intermediate Term: Bullish
Long Term: Bearish
Moving Averages: 10-period 50-period 200-period
Close: 21.77 22.78 22.74
Volatility: 35 34 40
Volume: 489,849 463,069 522,378
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.
MAG FINC FPO is currently 4.7% below its 200-period moving average and is in an upward trend. Volatility is Our volume indicators reflect volume flowing into and out of MFG.AX at a relatively equal pace (neutral). Our trend forecasting oscillators are currently bullish on MFG.AX and have had this outlook for the last 0 periods.
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