Australia: S&P/ASX 200 (.AXJO) Set to Open Higher

Australia: S&P/ASX 200 (.AXJO) Set to Open Higher

Australia: S&P/ASX 200 (.AXJO) Set to Open Higher

Australian shares were unchanged at the close of Friday’s session. The S&P/ASX 200 index, close the session at 6,268.400.

In the banking space, ANZ Banking, Westpac, National Australia Bank and Commonwealth Bank are lower in a range of 04 percent to 0.5 percent.

While, the best performers of the session on the S&P/ASX 200 were Mineral Resources Ltd, which surged 5.04  percent or 0.77 points to close the session at 16.040. Meanwhile, WiseTech Global Ltd added 4.74 percent or 0.81 points to end the session at 17.900, and Sigma Healthcare Ltd rose by 3.26 percent or 0.015 points to close the session at 0.475.

On the other hand, the weakest performers of the session were Southern Cross Media Group Ltd, which fell by 4.12 percent or 0.055 points to trade at 1.280 at the end of the session. GWA Group Ltd lost 3.74 percent or 0.13 points to end the session at 3.350 and Pilbara Minerals Ltd, was down by 3.17 percent or 0.035 points to end the session at 1.070.

Overall, the bias in prices is: Upwards.

By the way, prices are vulnerable to a correction towards 6,101.96.

The projected upper bound is: 6,358.35.

The projected lower bound is: 6,185.26.

The projected closing price is: 6,271.80.


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 24 white candles and 26 black candles for a net of 2 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 47.6504. This is not an overbought or oversold reading. The last signal was a sell 2 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 62.75. 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 14 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 96. This is not a topping or bottoming area. The last signal was a sell 2 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 1 period(s) ago.

Rex Takasugi – TD Profile

S&P/ASX 200 closed up 0.100 at 6,268.400. Volume was 25% below average (neutral) and Bollinger Bands were 24% narrower than normal.

Open High Low Close Volume___
6,268.3006,287.1006,251.1006,268.400 425,123,072

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

Moving Averages: 10-period 50-period 200-period
Close: 6,235.56 6,117.59 5,982.91
Volatility: 10 9 10
Volume: 494,189,664 567,224,384 550,263,552

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 4.8% 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 moderate flows of volume into .AXJO (mildly bullish). Our trend forecasting oscillators are currently bullish on .AXJO and have had this outlook for the last 16 periods.

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