Australia: S&P/ASX 200 (.AXJO) mixed earnings results

Australia: S&P/ASX 200 (.AXJO) mixed earnings results

Australia: S&P/ASX 200 (.AXJO) mixed earnings results

It has been a positive day of trade for the Australian share market, with the local bourse snapping its two-day losing streak. Most of the sectors traded higher today with Energy, Utilities, Healthcare and Telcos leading the charge.

The XJO was higher earlier in the session but selling in Financials capped gains. Traders and analysts also didn’t appear to like some earnings results that were released to the ASX, with from the likes of Pact Group (ASX:PGH) shares falling almost 10 per cent after the manufacturer announced it was hampered by weaker demand.

At the closing bell the S&P/ASX 200 index closed 18 points higher, or 0.3 per cent to finish at 6,079.

From the get-go we had mixed Wall Street leads with investors still uncertain of what will eventuate from the US-China trade talks.

Overall, the bias in prices is: Upwards.

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

By the way, prices are vulnerable to a correction towards 5,887.97.

The projected upper bound is: 6,240.03.

The projected lower bound is: 5,932.33.

The projected closing price is: 6,086.18.


A white body occurred (because prices closed higher than they opened).
During the past 10 bars, there have been 6 white candles and 4 black candles for a net of 2 white candles. During the past 50 bars, there have been 28 white candles and 22 black candles for a net of 6 white 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 81.8941. This is an overbought reading. However, a signal is not generated until the Oscillator crosses below 80 The last signal was a sell 14 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 71.67. This is where it usually tops. 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 71 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 100.This is an overbought reading. However, a signal isn’t generated until the indicator crosses below 100. The last signal was a sell 10 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 5 period(s) ago.

Rex Takasugi – TD Profile

S&P/ASX 200 closed up 18.300 at 6,079.100. Volume was 13% above average (neutral) and Bollinger Bands were 2% wider than normal.

Open High Low Close Volume___
6,060.8006,093.2006,053.4006,079.100 687,874,368

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

Moving Averages: 10-period 50-period 200-period
Close: 5,984.13 5,759.07 6,008.63
Volatility: 13 17 14
Volume: 672,857,792 604,833,600 590,110,080

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 1.2% above its 200-period moving average and is in an upward trend. Volatility is relatively normal 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 bullish on .AXJO and have had this outlook for the last 25 periods. Our momentum oscillator is currently indicating that .AXJO is currently in an overbought condition.

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