St Barbara Ltd (ASX:SBM) Possible Downward Trend
Overall, the bias in prices is: Downwards.
Short term: Prices are moving.
Intermediate term: Prices are trending.
Note: this chart shows extraordinary price action to the downside.
By the way, prices are vulnerable to a correction towards 2.80.
The projected upper bound is: 2.67.
The projected lower bound is: 2.02.
The projected closing price is: 2.35.
A white body occurred (because prices closed higher than they opened).
During the past 10 bars, there have been 4 white candles and 5 black candles for a net of 1 black candles. During the past 50 bars, there have been 23 white candles and 22 black candles for a net of 1 white candles.
Relative Strength Index
The current value for the 14 period RSI is 39.1955.
The RSI, written by J. Welles Wilder in 1978, can be used in several different ways to analyze a chart.
Tops and Bottoms
The RSI is not currently in a topping (above 70) or bottoming (below 30) range. A buy or sell signal is generated when the RSI moves out of an overbought/oversold area. The last signal was a Sell111 period(s) Ago.
The RSI often forms chart patterns (such as head and shoulders or rising wedges) that may or may not be visible on the price chart. Since the analysis of chart patterns is subjective, the Expert Advisor cannot find them. You will have to visually inspect the RSI indicator to look for such patterns.
Failure Swings (also known as support or resistance penetrations or breakouts)
The RSI does not currently show any Failure Swings.
Support and Resistance
The RSI shows, sometimes more clearly than the price chart, levels of support and resistance. As with chart formations, this is subjective, so you must visually inspect the chart to determine this.
The RSI and price are not diverging.
Rex Takasugi – TD Profile
ST.BARBARA FPO closed up 0.100 at 2.360. Volume was 17% below average (neutral) and Bollinger Bands were 8% wider than normal.
Open High Low Close Volume___
2.330 2.410 2.280 2.360 3,534,524
Short Term: Oversold
Intermediate Term: Bearish
Long Term: Bearish
Moving Averages: 10-period 50-period 200-period
Close: 2.61 2.78 2.67
Volatility: 112 74 83
Volume: 4,187,145 4,200,491 5,147,449
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.
ST.BARBARA FPO is currently 11.6% below 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 SBM.AX at a relatively equal pace (neutral). Our trend forecasting oscillators are currently bearish on SBM.AX and have had this outlook for the last 27 periods.
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