Westpac Banking Corp (ASX:WBC) Buy, Hold or Sell?
Overall, the bias in prices is: Sideways.
Short term: Prices are stalling.
Intermediate term: Prices are ranging.
The projected upper bound is: 32.92.
The projected lower bound is: 31.22.
The projected closing price is: 32.07.
A black body occurred (because prices closed lower than they opened).
During the past 10 bars, there have been 2 white candles and 8 black candles for a net of 6 black candles. During the past 50 bars, there have been 19 white candles and 30 black candles for a net of 11 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.
Rex Takasugi – TD Profile
WESTPAC FPO closed up 0.160 at 32.050. Volume was 2% above average (neutral) and Bollinger Bands were 51% wider than normal.
Open High Low Close Volume___
32.230 32.430 32.045 32.050 5,644,895
Short Term: Neutral
Intermediate Term: Bearish
Long Term: Bullish
Moving Averages: 10-period 50-period 200-period
Close: 31.92 32.26 30.64
Volatility: 16 17 23
Volume: 4,691,527 5,046,974 5,704,813
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.
WESTPAC FPO is currently 4.6% above its 200-period moving average and is in an downward trend. Volatility is relatively normal as compared to the average volatility over the last 10 periods. Our volume indicators reflect volume flowing into and out of WBC.AX at a relatively equal pace (neutral). Our trend forecasting oscillators are currently bearish on WBC.AX and have had this outlook for the last 10 periods.
We are aware of the heightened political tensions globally, these must be monitored daily to protect your portfolio.