Mirvac Group(ASX:MGR) Upward Trend

Mirvac Group(ASX:MGR) Upward Trend

Mirvac Group(ASX:MGR) Upward Trend

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 2.15.

The projected upper bound is: 2.37.

The projected lower bound is: 2.22.

The projected closing price is: 2.30.


During the past 10 bars, there have been 4 white candles and 4 black candles. During the past 50 bars, there have been 23 white candles and 22 black candles for a net of 1 white candles.

A doji star occurred (where a doji gaps above or below the previous candle). This often signals a reversal with confirmation occurring on the next bar.

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 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 65.6250. This is not an overbought or oversold reading. The last signal was a sell 1 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 64.85. 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 1 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 51. 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 8 period(s) ago.

Rex Takasugi – TD Profile

MIRVAC GRP STAPL closed down -0.010 at 2.290. Volume was 40% below average (neutral) and Bollinger Bands were 96% wider than normal.

Open High Low Close Volume___
2.290 2.295 2.230 2.290 7,793,203

Technical Outlook
Short Term: Overbought
Intermediate Term: Bullish
Long Term: Bullish

Moving Averages: 10-period 50-period 200-period
Close: 2.27 2.14 1.97
Volatility: 24 23 24
Volume: 15,207,153 12,341,599 14,233,224

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.

MIRVAC GRP STAPL is currently 16.5% above its 200-period moving average and is in an upward trend. Volatility is high as compared to the average volatility over the last 10 periods. Our volume indicators reflect volume flowing into and out of MGR.AX at a relatively equal pace (neutral). Our trend forecasting oscillators are currently bullish on MGR.AX and have had this outlook for the last 8 periods.


Mirvac Group is engaged in real estate investment, development and investment management. The Company operates in two divisions: Investment and Development The Investment division comprises Mirvac Property Trust (MPT) and a small number of assets held by the Company, which holds investments in properties covering the office, retail, industrial and hotel sectors across Australia. The Development divisions operations are property development and construction of residential, office, industrial and retail development projects. It has two segments, and one business unit, Investment Management, including Mirvac Asset Management, which is the property asset management business. Mirvac Investment Management comprises third party capital management with two business activities, being capital management for listed and unlisted property funds on behalf of retail and institutional investors, and property asset management on behalf of MPT, joint venture partners and property owners.

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