South32 Ltd (ASX:S32) Heffx Trading Analysis
Overall, the bias in prices is: Upwards.
Short term: Prices are moving.
Intermediate term: Prices are trending.
Note: this chart shows extraordinary price action to the upside.
By the way, prices are vulnerable to a correction towards 2.11.
The projected upper bound is: 2.60.
The projected lower bound is: 2.36.
The projected closing price is: 2.48.
During the past 10 bars, there have been 6 white candles and 1 black candles for a net of 5 white candles. During the past 50 bars, there have been 27 white candles and 13 black candles for a net of 14 white candles.
A doji star occurred (where a doji gaps above or below the previous candle). This often signals a reversal with confirmation occurring on the next bar.
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 78.0822. This is not an overbought or oversold reading. The last signal was a sell 4 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 71.30. This is where it usually tops. The RSI usually forms tops and bottoms before the underlying security. A buy or sell signal is generated when the RSI moves out of an overbought/oversold area. The last signal was a sell 1 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 121.This is an overbought reading. However, a signal isn’t generated until the indicator crosses below 100. The last signal was a sell 4 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 18 period(s) ago.
Rex Takasugi – TD Profile
SOUTH32 FPO closed up 0.060 at 2.470. Volume was 44% below average (neutral) and Bollinger Bands were 52% wider than normal.
Open High Low Close Volume___
2.470 2.490 2.450 2.470 10,624,093
Short Term: Overbought
Intermediate Term: Bullish
Long Term: Bullish
Moving Averages: 10-period 50-period 200-period
Close: 2.40 2.09 1.59
Volatility: 28 37 59
Volume: 19,654,820 17,088,922 21,446,938
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.
SOUTH32 FPO is currently 55.5% 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 moderate flows of volume into S32.AX (mildly bullish). Our trend forecasting oscillators are currently bullish on S32.AX and have had this outlook for the last 18 periods. Our momentum oscillator is currently indicating that S32.AX is currently in an overbought condition. The security price has set a new 14-period high while our momentum oscillator has not. This is a bearish divergence.
Latest posts by HEFFX Australia (see all)
- Apple (NASDAQ:AAPL) Buy on Dips - October 25, 2016
- Merck & Co (NYSE:MRK) Heffx Technical Analysis - October 25, 2016
- Chipotle Mexican Grill (NYSE:CMG) Heffx Trading Outlook - October 25, 2016