SET Index(INDEXBKK:SET) Thailand HEFFX Outlook 12/03/17

SET Index(INDEXBKK:SET) Thailand HEFFX Outlook 12/03/17

SET Index(INDEXBKK:SET) Thailand HEFFX Outlook

Overall, the bias in prices is: Sideways.

Short term: Prices are stalling.

Intermediate term: Prices are ranging.

The projected upper bound is: 1,562.02.

The projected lower bound is: 1,518.71.

The projected closing price is: 1,540.37.

SET Index closed down -9.330 at 1,539.910. Volume was 6% below average (neutral) and Bollinger Bands were 25% narrower than normal.

Open            High               Low              Close             Volume
1,547.910     1,548.590     1,537.230     1,539.910    9,539,844,096

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

Moving Averages: 10-period                50-period               200-period
Close:                       1,556.53                  1,568.77                   1,505.80
Volatility:                7                               9                                15
Volume:                   9,565,059,072      10,172,606,464      11,209,719,808

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 Thailand
SET Index is currently 2.3% above its 200-period moving average and is in an downward trend. Volatility is relatively normal as compared to the average volatility over the last 10 periods. Our volume indicators reflect moderate flows of volume out of .SETI (mildly bearish). Our trend forecasting oscillators are currently bearish on .SETI and have had this outlook for the last 15 periods.

 SET, BKK, Bangkok, Thailand, Asia, Index, HEFFX, Shayne Heffernan

HEFFX Candlesticks Thailand
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 4 white candles and 6 black candles for a net of 2 black candles. During the past 50 bars, there have been 25 white candles and 25 black candles.

HEFFX Momentum Thailand
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 35.1388. This is not an overbought or oversold reading. The last signal was a buy 7 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 33.72. 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 sell 27 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 -151.This is an oversold reading. However, a signal isn’t generated until the indicator crosses above -100. The last signal was a buy 7 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 sell 26 period(s) ago.

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John Heffernan

John Heffernan is a Junior Analyst at HEFFX. John is studying Economics and is a contributor on equities at Live Trading News.

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