Medibank Private (ASX:MPL) Price correction to 2.97

Medibank Private (ASX:MPL) Price correction to 2.97

Medibank Private (ASX:MPL) Price correction to 2.97

Overall, the bias in prices is: Downwards.

Short term: Prices are moving.

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 2.97.

The projected upper bound is: 2.87.

The projected lower bound is: 2.55.

The projected closing price is: 2.71.

Candlesticks

A white body occurred (because prices closed higher than they opened).
During the past 10 bars, there have been 3 white candles and 5 black candles for a net of 2 black candles. During the past 50 bars, there have been 23 white candles and 21 black candles for a net of 2 white candles.

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 9.6154. This is an oversold reading. However, a signal is not generated until the Oscillator crosses above 20 The last signal was a buy 20 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 23.57. This is where it usually bottoms. 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 47 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 -190.This is an oversold reading. However, a signal isn’t generated until the indicator crosses above -100. The last signal was a sell 19 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 sell 5 period(s) ago.

Rex Takasugi – TD Profile

MEDIBANK FPO closed unchanged at 2.720. Volume was 32% above average (neutral) and Bollinger Bands were 52% wider than normal.

Open High Low Close Volume___
2.710 2.740 2.685 2.720 15,637,200

Technical Outlook
Short Term: Oversold
Intermediate Term: Bearish
Long Term: Bearish

Moving Averages: 10-period 50-period 200-period
Close: 2.95 2.99 2.73
Volatility: 36 34 35
Volume: 12,221,956 12,190,520 12,398,951

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

MEDIBANK FPO is currently 0.5% below 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 very strong flows of volume out of MPL.AX (bearish). Our trend forecasting oscillators are currently bearish on MPL.AX and have had this outlook for the last 3 periods. Our momentum oscillator is currently indicating that MPL.AX is currently in an oversold condition.

Description

Medibank Private Limited is an Australia-based private health insurer and provider of ancillary services. The Company operates through two segments: Health Insurance and Complementary Services. Health Insurance segment offers private health insurance products, including hospital cover and extras cover, as stand-alone products or packaged products that combine the two. Hospital cover provides members with health cover for hospital treatments, whereas extras cover provides health cover for healthcare services, such as dental, optical and physiotherapy. Health Insurance segment also offers health insurance products to overseas visitors and overseas students. Complementary Services segment offers a range of activities, including contracting with government and corporate customers to provide health management services, as well as providing a range of tele health services in Australia and New Zealand. It also distributes insurance products on behalf of other insurers.
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