ASX – $6.1 Million Loss For The Financial Year

ASX – $6.1 Million Loss For The Financial Year

Fractional property investment platform, DomaCom has reported a $6.1 million loss for the financial year ended 30 June.

The company, which listed on the Australian Securities Exchange (ASX) in November last year and raised $7.3 million, said the result was still in line with its expectations and reflected its early stage position.

At the same time, the DomaCom Fund, for which DomaCom acted as the investment manager, managed to acquire 43 property assets in sectors such as residential, rural and commercial which drove the number of accounts to 1,240 held by more than 840 investors.

DomaCom said in its annual report, released to the ASX, that the concept of fractional investment in property proved highly attractive to investors globally, as evidenced by the growth in global funds invested rising from $20 million to $2.5 billion between 2010 and 2015.

While the concept is still in its infancy in Australia, there are a range of macro-economic drivers in place which give us significant confidence in the long-term prospects of the industry.

It continued to gain traction in its primary channel of Independent Financial Planners and had been approved by 43  different adviser groups.

At the end of the FY2017 the company had a cash position of $2.7 million and said it anticipated  receiving a further $1 million  in Q3 2017 through a research and development grant.

Technical Analysis

trading

Overall, the bias in prices is: Upwards.

Short term: Prices are moving.

Intermediate term: Prices are trending.

By the way, prices are vulnerable to a correction towards 52.81.

The projected upper bound is: 56.14.

The projected lower bound is: 53.45.

The projected closing price is: 54.80.

Candlesticks

A black body occurred (because prices closed lower than they opened).
During the past 10 bars, there have been 5 white candles and 5 black candles. During the past 50 bars, there have been 27 white candles and 23 black candles for a net of 4 white candles.

A long lower shadow occurred. This is typically a bullish signal (particularly when it occurs near a low price level, at a support level, or when the security is oversold).

Momentum Indicators

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 53.6364. This is not an overbought or oversold reading. The last signal was a sell 3 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 62.24. 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 136 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 79. This is not a topping or bottoming area. The last signal was a sell 3 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 23 period(s) ago.

Rex Takasugi – TD Profile

ASX FPO closed up 0.080 at 54.760. Volume was 56% below average (consolidating) and Bollinger Bands were 29% wider than normal.

Open     High       Low        Close     Volume
54.900  54.900   54.350   54.760   171,886

Technical Outlook
Short Term: Overbought
Intermediate Term: Bullish
Long Term: Bullish

Moving Averages: 10-period   50-period   200-period
Close:                       54.46          53.19            51.00
Volatility:                10                16                  16
Volume:                   324,181     394,973        405,546

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

ASX FPO is currently 7.4% 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 ASX.AX (mildly bullish). Our trend forecasting oscillators are currently bullish on ASX.AX and have had this outlook for the last 11 periods.

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Ivy Heffernan

Ivy Heffernan, student of Economics at Buckingham University. Junior Analyst at HeffX and experienced marketing director.

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