Abilene Oil and Gas Ltd (ASX:ABL) HEFFX Highlights

Abilene Oil and Gas Ltd (ASX:ABL) HEFFX Highlights

Abilene Oil and Gas Ltd (ASX:ABL) HEFFX Highlights

  • A technical indicator to check out is the Williams Percent Range or Williams %R. Currently, Abilene Oil and Gas Ltd (ABL.AX)’s Williams Percent Range or 14 day Williams %R is calculated at 0.00. The Williams %R can be an effective momentum indicator to help measure overbought/oversold levels.
  • Being a bound oscillator, levels will range from 0 to -100. Typically, if the value moves above -20, the stock may be considered to be overbought. On the other end, if the indicator heads under -80, this might signal that the stock is oversold.
  • Another technical indicator that might serve as a powerful resource for measuring trend strength is the Average Directional Index or ADX. The ADX was introduced by J. Welles Wilder in the late 1970’s and it has stood the test of time.
  • The ADX is typically used in conjunction with the Plus Directional Indicator (+DI) and Minus Directional Indicator (-DI) to help spot trend direction as well as trend strength. At the time of writing, the 14-day ADX for Abilene Oil and Gas Ltd (ABL.AX) is noted at 65.57.
  • Many technical analysts believe that an ADX value over 25 would suggest a strong trend. A reading under 20 would indicate no trend, and a reading from 20-25 would suggest that there is no clear trend signal.

Abilene Oil and Gas Limited is an Australia-based company engaged in resource exploration and investment in Australia and overseas, with a focus on oil and gas. The Company operates in the exploration sector for oil and gas assets within the United States. It holds interest in Klick Oil Project, including Klick East Oil Field located in Section 22 of T29N-R14W, Woods County, Oklahoma; Welch-Bornholdt Wherry Project, including Welch-Bornholdt and Wherry Oil Fields located in Rice and McPherson Counties, Kansas; Mount Lookout Prospect, including Morrison Oil Fields located in the Clark County, Kansas; Kinsley Prospect, which is located in the Edwards County, Kansas; Central Kansas Uplift Project, including working interest in leases covering approximately 15,663 acres of the Russell, Rice, Ellsworth and Barton Counties located in Kansas; Pratt County Prospect Joint Venture, which is located in Pratt County, Kansas; Rawlins County Prospect Joint Venture, and Logan County Project.

Overall, the bias in prices is: Downwards.

Short term: Prices are stalling.

Intermediate term: Prices are trending.

Note: this chart shows extraordinary price action to the downside.

The projected upper bound is: 0.01.

The projected lower bound is: 0.00.

The projected closing price is: 0.01.

ABILENE OIL closed down -0.001 at 0.007. Volume was 86% above average (neutral) and Bollinger Bands were 61% narrower than normal.

Open      High        Low         Close       Volume___
0.007      0.007      0.007      0.007      171,580

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

Moving Averages: 10-period 50-period 200-period
Close:                      0.01           0.01           0.02
Volatility:               152             212            616
Volume:                  51,647       89,607      94,975

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

ABILENE OIL gapped down today (bearish) on normal volume. Possibility of a Runaway Gap which usually signifies a continuation of the trend. Four types of price gaps exist – Common, Breakaway, Runaway, and Exhaustion. Gaps acts as support/resistance.
ABILENE OIL is currently 59.1% below 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 very strong flows of volume out of ABL.AX (bearish). Our trend forecasting oscillators are currently bearish on ABL.AX and have had this outlook for the last 10 periods. The security price has set a new 14-period low while our momentum oscillator has not. This is a bullish divergence.

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 33.3333. This is not an overbought or oversold reading. The last signal was a sell 1 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 42.70. 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 buy 105 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 -67. This is not a topping or bottoming area. The last signal was a buy 6 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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