Australia: S&P/ASX 200 (.AXJO) has finished flat following a sluggish day amid more uncertainty over Brexit negotiations
The Australian sharemarket has finished flat following a sluggish day amid more uncertainty over Brexit negotiations.
The S&P-ASX 200 index finished Wednesday up 0.9 points to 6673.1, while the all ordinaries was down 0.4 points to 6778.2.
With British Prime Minister Boris Johnson’s Brexit bill in limbo trading on the ASX was in a narrow range throughout the day.
Telecommunications shares were the biggest losers, falling 0.9 per cent, while property trusts the biggest gainers, rising 0.6 per cent.
No other sector moved more than 0.4 per cent.
Overall, the bias in prices is: Sideways.
By the way, prices are vulnerable to a correction towards 6,618.57.
The projected upper bound is: 6,833.65.
The projected lower bound is: 6,515.64.
The projected closing price is: 6,674.64.
A white body occurred (because prices closed higher than they opened).
During the past 10 bars, there have been 8 white candles and 2 black candles for a net of 6 white candles. During the past 50 bars, there have been 32 white candles and 18 black candles for a net of 14 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).
Three white candles occurred in the last three days. Although these candles were not big enough to create three white soldiers, the steady upward pattern is bullish.
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.
One method of interpreting the Stochastic Oscillator is looking for overbought areas (above 80) and oversold areas (below 20). The Stochastic Oscillator is 42.7357. 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 53.41. 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 77 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 53. This is not a topping or bottoming area. The last signal was a buy 11 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 6 period(s) ago.
Rex Takasugi – TD Profile
S&P/ASX 200 closed up 0.900 at 6,673.100. Volume was 15% below average (neutral) and Bollinger Bands were 12% narrower than normal.
Open High Low Close Volume___
Short Term: Neutral
Intermediate Term: Bearish
Long Term: Bullish
Moving Averages: 10-period 50-period 200-period
Close: 6,651.72 6,609.03 6,401.00
Volatility: 11 15 13
Volume: 589,298,880 662,449,856 635,960,832
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 4.3% above 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 .AXJO at a relatively equal pace (neutral). Our trend forecasting oscillators are currently bearish on .AXJO and have had this outlook for the last 12 periods.
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