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: Sideways.

Short term: Prices are stalling.

Intermediate term: Prices are ranging.

The projected upper bound is: 1,579.80.

The projected lower bound is: 1,537.73.

The projected closing price is: 1,558.77.

SET Index closed down -6.560 at 1,558.030. Volume was 0% above average (neutral) and Bollinger Bands were 49% narrower than normal.

Open             High              Low               Close             Volume
1,560.580     1,562.860     1,555.520     1,558.030     10,328,926,208

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

Moving Averages: 10-period                  50-period             200-period
Close:                       1,570.44                    1,561.25                 1,498.52
Volatility:                8                                 9                              15
Volume:                   10,799,234,048      9,893,389,312      11,295,046,656

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 4.0% 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 6 periods.

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

HEFFX Candlesticks Thailand
A black body occurred (because prices closed lower than they opened).
During the past 10 bars, there have been 3 white candles and 7 black candles for a net of 4 black candles. During the past 50 bars, there have been 25 white candles and 25 black candles.

Three black candles occurred in the last three days. Although these candles were not big enough to create three black crows, the steady downward pattern is bearish.

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 15.6969. This is an oversold reading. However, a signal is not generated until the Oscillator crosses above 20 The last signal was a buy 15 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 41.56. 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 18 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 -145.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 17 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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