Abacus Property Group (ASX:ABP) HEFFX Highlights

Abacus Property Group (ASX:ABP) HEFFX Highlights

Abacus Property Group (ASX:ABP) HEFFX Highlight

  • Abacus Property Group’s ROE of 19.2% over the past year stood above the industry average of 13.61%. Often called the ‘mother of all ratios’, Return on Equity tells you how much capital is created in percentage terms for the amount committed by a shareholder to a company. But there are multiple other aspects to consider before drawing a conclusion.
  • Company shares of Abacus Property Group (ABP.AX) have seen the Rank Correlation Indicator climb higher over the past 3 trading days, suggesting that it could be nearing a turning point if the reading crosses the 80 mark.
  • The Rank Correlation Indicator, or RCI will find the highest high and the lowest low with a given range and will find out if the security is over or undervalued. It is very much like Stoachastic but with different time periods. Created by Charles Spearman, the indicator oscillates between +100 and -100. At +100 there is a maximum positive correlation between rising price and date.
  • However, if the indicator shows -100, the price falls continuously while the date continues to rise. There is hence a maximum negative correlation. The interpretation is analogous to that for other oscillators. If RCI is higher than 80 (overbought), then a sell signal is triggered, and if RCI is lower than -80 (oversold), a buy signal is given.

Abacus Property Group is a real estate investment. The principal activities of the Company include investment in office, retail and industrial properties, investment in self-storage facilities, participation in property ventures and developments, and property funds management. Its segments include Property, Storage, Property Ventures, Funds Management, AHF, ADIFII and AWLF. The Property segment is engaged in investing in ownership of commercial, retail and industrial properties. The segment also includes the equity accounting of material co-investments in property entities not engaged in development and construction projects. The Storage segment is engaged in investing in, and ownership of, self-storage facilities. The Property Ventures segment is engaged in providing lending and related property financing solutions and investment in joint venture developments and construction projects. The Funds Management segment includes development, and fund management revenues and expenses.

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 3.20.

The projected upper bound is: 3.10.

The projected lower bound is: 2.89.

The projected closing price is: 2.99.

ABACUS STAPLED closed down -0.010 at 3.000. Volume was 23% below average (neutral) and Bollinger Bands were 73% wider than normal.

Open       High       Low          Close       Volume
3.020      3.045      2.980      3.000      678,982

Technical Outlook
Short Term: Neutral
Intermediate Term: Bearish
Long Term: Bearish

Moving Averages: 10-period       50-period      200-period
Close:                       3.01                3.29                 3.09
Volatility:                10                    20                    22
Volume:                   784,769         934,919           999,927

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

ABACUS STAPLED is currently 2.9% below its 200-period moving average and is in an downward trend. Volatility is high as compared to the average volatility over the last 10 periods. Our volume indicators reflect volume flowing into and out of ABP.AX at a relatively equal pace (neutral). Our trend forecasting oscillators are currently bearish on ABP.AX and have had this outlook for the last 33 periods. Our momentum oscillator is currently indicating that ABP.AX is currently in an oversold condition.

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 38.0952. This is not an overbought or oversold reading. The last signal was a buy 8 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 26.46. This is where it usually bottoms. 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 buy 15 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 -48. This is not a topping or bottoming area. The last signal was a buy 8 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 buy 3 period(s) ago.

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John Heffernan

John Heffernan is a Junior Analyst at HEFFX. John is studying Economics and is a contributor on equities at Live Trading News.

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