Overall, the bias in prices is: Sideways.
Short term: Prices are stalling.
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 3.16.
The projected upper bound is: 3.32.
The projected lower bound is: 2.95.
The projected closing price is: 3.14.
Candlesticks signifies the bulls maybe in trouble
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 21 white candles and 25 black candles for a net of 4 black candles.
A spinning top occurred (a spinning top is a candle with a small real body). Spinning tops identify a session in which there is little price action (as defined by the difference between the open and the close). During a rally or near new highs, a spinning top can be a sign that prices are losing momentum and the bulls may be in trouble.
Qantas Momentum Indicators show neither a top or bottom has formed
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 44.0679. This is not an overbought or oversold reading. The last signal was a sell 6 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 56.27. 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 buy 31 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 14. This is not a topping or bottoming area. The last signal was a sell 6 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 0 period(s) ago.
QANTAS is currently 12.2% below its 200-period moving average and is in an upward trend. Volatility is low as compared to the average volatility over the last 10 periods. Our volume indicators reflect volume flowing into and out of QAN.AX at a relatively equal pace (neutral). Our trend forecasting oscillators are currently bullish on QAN.AX and have had this outlook for the last 22 periods.
All charts come from Metastocks’ trading platform, try the 30 day free trial for access to more information and forecasts available here .
Latest posts by HEFFX Australia (see all)
- TPG Telecom Limited (TPM:AX) Stock Consolidating - March 21, 2018
- HANG SENG INDEX (.HSI) Heffx Technical Analysis - March 21, 2018
- Westpac Banking Corporation (WBC:AX) Heffx Daily Review - March 21, 2018