QBE Insurance (ASX:QBE) Heffx Trading Outlook

QBE Insurance (ASX:QBE) Heffx Trading Outlook

QBE Insurance (ASX:QBE) Heffx Trading Outlook

Overall, the bias in prices is: Downwards.

Short term: Prices are moving.

Intermediate term: Prices are trending.

Note: this chart shows extraordinary price action to the downside.

By the way, prices are vulnerable to a correction towards 10.42.

The projected upper bound is: 10.20.

The projected lower bound is: 9.13.

The projected closing price is: 9.66.

QBE Insurance Group

Candlesticks

A big white candle occurred. This is generally considered bullish, as prices closed significantly higher than they opened. If the candle appears when prices are “low,” it may be the first sign of a bottom. If it occurs when prices are rebounding off of a support area (e.g., a moving average, trendline, or retracement level), the long white candle adds credibility to the support. Similarly, if the candle appears during a breakout above a resistance area, the long white candle adds credibility to the breakout.
During the past 10 bars, there have been 5 white candles and 5 black candles. During the past 50 bars, there have been 22 white candles and 28 black candles for a net of 6 black candles.

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 26.7759. This is not an overbought or oversold reading. The last signal was a buy 0 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 31.39. This is not a topping or bottoming area. However, the RSI just crossed above 30 from a bottoming formation. This is a bullish sign. A buy or sell signal is generated when the RSI moves out of an overbought/oversold area. The last signal was a buy 0 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 -124.This is an oversold reading. However, a signal isn’t generated until the indicator crosses above -100. The last signal was a buy 14 period(s) ago.

MACD

The Moving Average Convergence/Divergence indicator (MACD) gives signals when it crosses its 9 period signal line. The last signal was a buy 4 period(s) ago.

Rex Takasugi – TD Profile

QBE INSUR. FPO closed up 0.060 at 9.680. Volume was 29% above average (neutral) and Bollinger Bands were 19% narrower than normal.

Open High Low Close Volume___
9.550 9.700 9.550 9.680 6,777,670

Technical Outlook
Short Term: Neutral
Intermediate Term: Bearish
Long Term: Bearish

Moving Averages: 10-period 50-period 200-period
Close: 9.79 10.50 11.10
Volatility: 12 32 35
Volume: 5,090,407 4,717,535 5,011,939

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.

Summary

QBE INSUR. FPO is currently 12.8% below its 200-period moving average and is in an downward trend. Volatility is high as compared to the average volatility over the last 10 periods. Our volume indicators reflect moderate flows of volume out of QBE.AX (mildly bearish). Our trend forecasting oscillators are currently bearish on QBE.AX and have had this outlook for the last 15 periods.

Description

QBE Insurance Group Limited is an Australia-based company engaged in underwriting general insurance and reinsurance risks, management of Lloyd’s syndicates and investment management. The Company operates through five segments: North American operations, which writes general insurance and reinsurance business in the United States; European operations, which writes general insurance business in the United Kingdom and Canada and across mainland Europe, and reinsurance business through offices in London, Ireland, Bermuda and mainland Europe; Australian & New Zealand Operations, which underwrites general insurance risks across Australia and New Zealand; Emerging Markets, which writes general insurance business in North, Central and South America, and provides personal, commercial and specialist general insurance covers across the Asia Pacific region, and Equator Re, which is based in Bermuda and provides reinsurance protection to related entities.
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HEFFX has become one of Asia’s leading financial services companies with interests in Publishing, Private Equity, Capital Markets, Mining, Retail, Transport and Agriculture that span every continent of the world. Our clearing partners have unprecedented experience in Equities, Options, Forex and Commodities brokering, banking, physical metals dealing, floor brokering and trading.

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