Newcrest Mining (ASX:NCM) Heffx Trading Outlook
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 22.10.
The projected upper bound is: 23.62.
The projected lower bound is: 22.13.
The projected closing price is: 22.87.
During the past 10 bars, there have been 5 white candles and 3 black candles for a net of 2 white candles. During the past 50 bars, there have been 27 white candles and 17 black candles for a net of 10 white candles.
A gravestone doji occurred. This often signifies a top (the longer the upper shadow, the more bearish the signal).
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 77.1933. This is not an overbought or oversold reading. The last signal was a sell 0 period(s) ago.
Relative Strength Index (RSI)
RSI shows overbought (above 70) and oversold (below 30) areas. The current value of the RSI is 75.51. This is where it usually tops. 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 50 period(s) ago.
Commodity Channel Index (CCI)
CCI shows overbought (above 100) and oversold (below -100) areas. The current value of the CCI is 72. This is not a topping or bottoming area. The last signal was a sell 1 period(s) ago.
Moving Average Convergence/Divergence indicator (MACD) gives signals when it crosses its 9 period signal line. The last signal was a buy 49 period(s) ago.
Rex Takasugi – TD Profile
NEWCREST FPO closed down -0.020 at 22.850. Volume was 36% above average (neutral) and Bollinger Bands were 98% wider than normal.
Open High Low Close Volume___
22.850 22.850 22.850 22.850 792,918
Short Term: Overbought
Intermediate Term: Bullish
Long Term: Bullish
Moving Averages: 10-period 50-period 200-period
Close: 22.39 21.56 22.75
Volatility: 39 22 20
Volume: 738,209 612,147 556,489
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.
NEWCREST FPO is currently 0.5% above its 200-period moving average and is in an upward trend. Volatility is extremely high when compared to the average volatility over the last 10 periods. There is a good possibility that volatility will decrease and prices will stabilize in the near term. Our volume indicators reflect volume flowing into and out of NCM.AX at a relatively equal pace (neutral). Our trend forecasting oscillators are currently bullish on NCM.AX and have had this outlook for the last 10 periods. Our momentum oscillator is currently indicating that NCM.AX is currently in an overbought condition.
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