Scentre Group (ASX:SCG) Possible Correction Towards 4.85
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 4.85.
The projected upper bound is: 4.77.
The projected lower bound is: 4.39.
The projected closing price is: 4.58.
A white body occurred (because prices closed higher 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 20 white candles and 27 black candles for a net of 7 black candles.
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 59.7766. This is not an overbought or oversold reading. The last signal was a buy 1 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 34.12. 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 2 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 -56. This is not a topping or bottoming area. The last signal was a buy 1 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 40 period(s) ago.
Rex Takasugi – TD Profile
SCENTRE STAPLED closed up 0.040 at 4.590. Volume was 84% above average (neutral) and Bollinger Bands were 134% wider than normal.
Open High Low Close Volume___
4.550 4.620 4.540 4.590 22,431,196
Short Term: Neutral
Intermediate Term: Bearish
Long Term: Bearish
Moving Averages: 10-period 50-period 200-period
Close: 4.63 5.05 4.61
Volatility: 36 25 22
Volume: 20,988,982 12,965,070 12,534,333
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.
SCENTRE STAPLED is currently 0.4% 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 volume flowing into and out of SCG.AX at a relatively equal pace (neutral). Our trend forecasting oscillators are currently bearish on SCG.AX and have had this outlook for the last 27 periods.
Increase your trading profits by trying MetaStocks Xenith 30 day free trial.
Latest posts by HEFFX Australia (see all)
- Workday Inc (NYSE:WDAY) Heffx Trading Outlook - February 28, 2017
- Priceline Group Inc (NASDAQ:PCLN) Technical Analysis Trending Upwards - February 28, 2017
- Tesla Inc (NASDAQ:TSLA) Volatility is High on a Downward Trend - February 28, 2017