Sigma Pharmaceutical (ASX:SIP) Heffx Trading Outlook
Overall, the bias in prices is: Upwards.
Short term: Prices are moving.
Intermediate term: Prices are ranging.
By the way, prices are vulnerable to a correction towards 1.20.
The projected upper bound is: 1.37.
The projected lower bound is: 1.21.
The projected closing price is: 1.29.
A black body occurred (because prices closed lower than they opened).
During the past 10 bars, there have been 3 white candles and 5 black candles for a net of 2 black candles. During the past 50 bars, there have been 16 white candles and 27 black candles for a net of 11 black candles.
A rising window occurred (where the top of the previous shadow is below the bottom of the current shadow). This usually implies a continuation of a bullish trend. There have been 3 rising windows in the last 50 candles–this makes the current rising window even more bullish.
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 45.1219. 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 62.93. 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 73 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 223.This is an overbought reading. However, a signal isn’t generated until the indicator crosses below 100. The last signal was a buy 0 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 buy 0 period(s) ago.
Rex Takasugi – TD Profile
SIGMAPHARM FPO closed up 0.130 at 1.285. Volume was 166% above average (trending) and Bollinger Bands were 1% narrower than normal.
Open High Low Close Volume___
1.295 1.335 1.245 1.285 6,912,712
Short Term: Neutral
Intermediate Term: Bearish
Long Term: Bullish
Moving Averages: 10-period 50-period 200-period
Close: 1.20 1.24 1.04
Volatility: 69 41 39
Volume: 2,573,301 2,371,874 2,464,619
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.
SIGMAPHARM FPO gapped up today (bullish) on heavy volume. Possibility of a Breakaway Gap which usually signifies the beginning of a major market move. Four types of price gaps exist – Common, Breakaway, Runaway, and Exhaustion. Gaps acts as support/resistance.
SIGMAPHARM FPO is currently 24.1% above 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 SIP.AX at a relatively equal pace (neutral). Our trend forecasting oscillators are currently bearish on SIP.AX and have had this outlook for the last 20 periods.
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