South32 Ltd (ASX:S32) Stock is a Clear Sell or Hold?

South32 Ltd (ASX:S32) Stock is a Clear Sell or Hold?

South32 Ltd (ASX:S32) Stock is a Clear Sell or Hold?

Overall, the bias in prices is: Sideways.

Short term: Prices are stalling.

Intermediate term: Prices are ranging.

The projected upper bound is: 2.82.

The projected lower bound is: 2.38.

The projected closing price is: 2.60.

South32 Ltd

Candlesticks

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 3 white candles and 5 black candles for a net of 2 black candles. During the past 50 bars, there have been 18 white candles and 27 black candles for a net of 9 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.

Momentum Indicators
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 15.3153. This is an oversold reading. However, a signal is not generated until the Oscillator crosses above 20 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 40.18. 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 82 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 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 0 period(s) ago.

Rex Takasugi – TD Profile

SOUTH32 FPO closed down -0.120 at 2.600. Volume was 111% above average (neutral) and Bollinger Bands were 15% narrower than normal.

Open High Low Close Volume___
2.730 2.750 2.585 2.600 46,292,880

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

Moving Averages: 10-period 50-period 200-period
Close: 2.74 2.80 2.21
Volatility: 63 51 53
Volume: 24,017,490 21,747,274 20,168,006

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
SOUTH32 FPO is currently 17.5% above its 200-period moving average and is in an downward trend. Volatility is Our volume indicators reflect volume flowing into and out of S32.AX at a relatively equal pace (neutral). Our trend forecasting oscillators are currently bearish on S32.AX and have had this outlook for the last 0 periods.

We are aware of the heightened political tensions globally, these must be monitored daily to protect your portfolio.

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