Metcash Limited (ASX:MTS) Long Term Bullish Projection
Overall, the bias in prices is: Upwards.
Short term: Prices are moving.
Intermediate term: Prices are trending.
Note: this chart shows extraordinary price action to the upside.
By the way, prices are vulnerable to a correction towards 2.12.
The projected upper bound is: 2.39.
The projected lower bound is: 2.17.
The projected closing price is: 2.28.
A black body occurred (because prices closed lower than they opened).
During the past 10 bars, there have been 4 white candles and 5 black candles for a net of 1 black candles. During the past 50 bars, there have been 22 white candles and 25 black candles for a net of 3 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 48.8636. This is not an overbought or oversold reading. The last signal was a sell 2 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 61.38. 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 2 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 36. This is not a topping or bottoming area. The last signal was a sell 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 buy 33 period(s) ago.
Rex Takasugi – TD Profile
METCASHLTD FPO closed down -0.040 at 2.280. Volume was 14% below average (neutral) and Bollinger Bands were 9% wider than normal.
Open High Low Close Volume___
2.300 2.320 2.240 2.280 3,410,734
Short Term: Neutral
Intermediate Term: Bullish
Long Term: Bullish
Moving Averages: 10-period 50-period 200-period
Close: 2.28 2.06 1.99
Volatility: 31 33 43
Volume: 2,417,679 4,737,206 4,585,285
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.
METCASHLTD FPO is currently 14.5% above its 200-period moving average and is in an upward 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 into MTS.AX (bullish). Our trend forecasting oscillators are currently bullish on MTS.AX and have had this outlook for the last 25 periods. our momentum oscillator has set a new 14-period low while the security price has not. This is a bearish divergence.
Latest posts by HEFFX Australia (see all)
- Auckland International Airport Ltd (ASX:AIA) Heffx Trading Outlook - January 22, 2017
- Washington H. Soul Pattinson and Co. Ltd (ASX:SOL) Heffx Trading Outlook - January 22, 2017
- REA Group Limited (ASX:REA) Heffx Technical Analysis with Candlesticks - January 22, 2017