OFX Group Ltd (ASX:OFX) Declines
Overall, the bias in prices is: Downwards.
Short term: Prices are moving.
Intermediate term: Prices are ranging.
Note: this chart shows extraordinary price action to the downside.
The projected upper bound is: 1.52.
The projected lower bound is: 1.14.
The projected closing price is: 1.33.
A white body occurred (because prices closed higher than they opened).
During the past 10 bars, there have been 5 white candles and 4 black candles for a net of 1 white candles. During the past 50 bars, there have been 25 white candles and 23 black candles for a net of 2 white candles.
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 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 13.1434. This is an oversold reading. However, a signal is not generated until the Oscillator crosses above 20 The last signal was a sell 3 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 25.34. 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 52 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 -233.This is an oversold reading. However, a signal isn’t generated until the indicator crosses above -100. The last signal was a sell 3 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 3 period(s) ago.
Rex Takasugi – TD Profile
OZFOREX FPO closed up 0.065 at 1.335. Volume was 127% above average (neutral) and Bollinger Bands were 31% wider than normal.
Open High Low Close Volume___
1.320 1.335 1.280 1.335 4,373,684
Short Term: Oversold
Intermediate Term: Bearish
Long Term: Bearish
Moving Averages: 10-period 50-period 200-period
Close: 1.62 1.68 2.02
Volatility: 164 82 62
Volume: 2,307,841 1,542,843 1,530,367
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.
OZFOREX FPO is currently 33.8% below its 200-period moving average and is in an downward 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 moderate flows of volume out of OFX.AX (mildly bearish). Our trend forecasting oscillators are currently bearish on OFX.AX and have had this outlook for the last 20 periods. Our momentum oscillator is currently indicating that OFX.AX is currently in an oversold condition.