SET Index (INDEXBKK:SET) Thailand HEFFX Outlook

SET Index (INDEXBKK:SET) Thailand HEFFX Outlook

SET Index(INDEXBKK:SET) Thailand HEFFX Outlook

Overall, the bias in prices is: Upwards.

Short term: Prices are stalling.

Intermediate term: Prices are trending.

The projected upper bound is: 1,606.51.

The projected lower bound is: 1,563.57.

The projected closing price is: 1,585.04.

SET Index closed up 10.280 at 1,582.950. Volume was 8% below average (neutral) and Bollinger Bands were 50% narrower than normal.

Open           High            Low             Close           Volume
1,573.260   1,586.060   1,571.380   1,582.950   9,835,649,024

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

Moving Averages: 10-period              50-period             200-period
Close:                       1,581.55                1,541.27                 1,485.46
Volatility:                8                             9                             15
Volume:                   9,844,955,136     9,627,784,192     11,196,097,536

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 6.6% above 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 .SETI at a relatively equal pace (neutral). Our trend forecasting oscillators are currently bullish on .SETI and have had this outlook for the last 46 periods.

Thailand, BKK, Asia, HEFFX, Outlook, SET, Index, Shayne heffernan,

HEFFX Candlesticks Thailand
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 7 white candles and 3 black candles for a net of 4 white candles. During the past 50 bars, there have been 28 white candles and 22 black candles for a net of 6 white 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 28.0607. 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 61.77. 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 3 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 30. This is not a topping or bottoming area. The last signal was a sell 3 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 2 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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