Western Areas (ASX:WSA) Trending Upwards
Overall, the bias in prices is: Upwards.
Short term: Prices are moving.
Intermediate term: Prices are ranging.
Note: this chart shows extraordinary price action to the upside.
The projected upper bound is: 3.16.
The projected lower bound is: 2.54.
The projected closing price is: 2.85.
A black body occurred (because prices closed lower than they opened).
During the past 10 bars, there have been 8 white candles and 1 black candles for a net of 7 white candles. During the past 50 bars, there have been 28 white candles and 19 black candles for a net of 9 white candles.
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 87.9629. This is an overbought reading. However, a signal is not generated until the Oscillator crosses below 80 The last signal was a sell 10 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 60.16. 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 50 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 120.This is an overbought reading. However, a signal isn’t generated until the indicator crosses below 100. The last signal was a sell 5 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 9 period(s) ago.
Rex Takasugi – TD Profile
WEST AREAS FPO closed down -0.040 at 2.850. Volume was 65% below average (consolidating) and Bollinger Bands were 11% narrower than normal.
Open High Low Close Volume___
2.860 2.890 2.840 2.850 709,651
Short Term: Overbought
Intermediate Term: Bullish
Long Term: Bullish
Moving Averages: 10-period 50-period 200-period
Close: 2.69 2.73 2.33
Volatility: 35 70 75
Volume: 1,451,854 1,865,011 1,966,042
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.
WEST AREAS FPO is currently 22.5% above its 200-period moving average and is in an upward trend. Volatility is extremely low when compared to the average volatility over the last 10 periods. There is a good possibility that there will be an increase in volatility along with sharp price fluctuations in the near future. Our volume indicators reflect moderate flows of volume into WSA.AX (mildly bullish). Our trend forecasting oscillators are currently bullish on WSA.AX and have had this outlook for the last 0 periods.
Latest posts by HEFFX Australia (see all)
- Yowie Group Ltd (ASX:YOW) Heffx Trading Outlook - January 16, 2017
- Class Ltd (ASX:CL1) Heffx Trading Outlook - January 16, 2017
- Computershare Limited (ASX:CPU) Look out for a Bearish Divergence - January 16, 2017