Australia: S&P/ASX 200 (.AXJO) Alumina push ASX higher

Australia: S&P/ASX 200 (.AXJO) Alumina push ASX higher

Australia: S&P/ASX 200 (.AXJO) Alumina push ASX higher

The best-performing ASX 200 share today was Alumina Limited (ASX: AWC), its share price went up 10.8% after the world’s alumina largest refinery, Alunorte, ceased production potentially forever.

South32 Ltd (ASX: S32) was another to benefit from the closure news, its share price rose by 7.3%.

The Magellan Financial Group Ltd (ASX: MFG) share price rose 7.8% after Hamish Douglass said he’d be focusing more on the investment side of things for Magellan as its new Chairman.

At the opposite end of the ASX 200 was Pact Group Holdings Ltd (ASX: PGH), its share price fell 8%.

The Bank of Queensland Limited (ASX: BOQ) share price climbed 2.2% today after reporting its FY18 figures to the market.

Overall, the bias in prices is: Sideways.

The projected upper bound is: 6,264.37.

The projected lower bound is: 6,085.50.

The projected closing price is: 6,174.94.


A white body occurred (because prices closed higher 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 22 white candles and 28 black candles for a net of 6 black candles.

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 26.8392. This is not an overbought or oversold reading. The last signal was a buy 0 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 47.08. 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 73 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 -22. This is not a topping or bottoming area. The last signal was a buy 0 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 0 period(s) ago.

Rex Takasugi – TD Profile

S&P/ASX 200 closed up 30.200 at 6,176.300. Volume was 20% above average (neutral) and Bollinger Bands were 53% narrower than normal.

Open High Low Close Volume___
6,146.1006,195.2006,146.1006,176.300 690,073,472

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

Moving Averages: 10-period 50-period 200-period
Close: 6,176.94 6,238.39 6,080.74
Volatility: 8 9 11
Volume: 593,053,504 592,449,984 563,253,568

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.


S&P/ASX 200 is currently 1.6% above its 200-period moving average and is in an downward 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 volume flowing into and out of .AXJO at a relatively equal pace (neutral). Our trend forecasting oscillators are currently bearish on .AXJO and have had this outlook for the last 20 periods.

The following two tabs change content below.
HEFFX has become one of Asia’s leading financial services companies with interests in Publishing, Private Equity, Capital Markets, Mining, Retail, Transport and Agriculture that span every continent of the world. Our clearing partners have unprecedented experience in Equities, Options, Forex and Commodities brokering, banking, physical metals dealing, floor brokering and trading.

You must be logged in to post comments :