Nine Entertainment Co Holdings Ltd (ASX:NEC) Trading Outlook
Overall, the bias in prices is: Downwards.
Short term: Prices are moving.
Intermediate term: Prices are trending.
The projected upper bound is: 1.01.
The projected lower bound is: 0.84.
The projected closing price is: 0.92.
A big black candle occurred. This is bearish, as prices closed significantly lower than they opened. If the candle appears when prices are “high,” it may be the first sign of a top. If it occurs when prices are confronting an overhead resistance area (e.g., a moving average, trendline, or price resistance level), the long black candle adds credibility to the resistance. Similarly, if the candle appears as prices break below a support area, the long black candle confirms the failure of the support area.
During the past 10 bars, there have been 2 white candles and 7 black candles for a net of 5 black candles. During the past 50 bars, there have been 19 white candles and 29 black candles for a net of 10 black candles.
A falling window occurred (where the bottom of the previous shadow is above the top of the current shadow). This usually implies a continuation of a bearish trend.
Nine Entertainment Co Holdings Ltd (ASX:NEC) closed down -0.155 at 0.930. Volume was 533% above average (trending) and Bollinger Bands were 28% narrower than normal.
Open High Low Close Volume___
1.080 1.080 0.910 0.930 21,421,064
Short Term: Neutral
Intermediate Term: Bullish
Long Term: Bearish
Moving Averages: 10-period 50-period 200-period
Close: 1.08 1.10 1.41
Volatility: 89 52 59
Volume: 3,867,034 2,589,097 3,111,014
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.
Nine Entertainment Co Holdings Ltd (ASX:NEC) gapped down today (bearish) on heavy volume. Possibility of a Breakaway Gap which usually signifies the beginning of a major market move. Four types of price gaps exist – Common, Breakaway, Runaway, and Exhaustion. Gaps acts as support/resistance.
Nine Entertainment Co Holdings Ltd (ASX:NEC) is currently 34.0% below 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 NEC.AX at a relatively equal pace (neutral). Our trend forecasting oscillators are currently bullish on NEC.AX and have had this outlook for the last 13 periods. Our momentum oscillator is currently indicating that NEC.AX is currently in an oversold condition.
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 32.7869. This is not an overbought or oversold reading. The last signal was a buy 4 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 25.26. 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 24 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 -270.This is an oversold reading. However, a signal isn’t generated until the indicator crosses above -100. The last signal was a sell 10 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 sell 5 period(s) ago.
Nine Entertainment Co. Holdings Limited is an Australia-based company, which is engaged in television broadcasting and program production; ticketing, promotion and event planning, and digital, Internet, subscription television, and other media sectors. The Company operates in two segments: Television, which includes free to air television activities, and Digital, which includes ninemsn Pty Limited and other digital activities. It owns Free to Air TV licenses (for Channels 9, Go! and GEM) in Sydney, Melbourne, Brisbane, Adelaide, Perth and Darwin, as well as regional New South Wales. The Company’s assets include the Nine Network, Mi9, an interest in Stan, as well as interests in Sky News Australia, Daily Mail Australia, Pedestrian TV and Yellow Brick Road, which is a financial services company. Mi9 includes content sites, such as ninemsn and the Daily Mail Australia and is the digital home of Channel Nine, 9JumpIn. Mi9 also sells Microsoft’s suite of advertising products.