Australia: S&P/ASX 200 (.AXJO) shares have closed flat

Australia: S&P/ASX 200 (.AXJO) shares have closed flat

Australia: S&P/ASX 200 (.AXJO) shares have closed flat

Local shares have opened flat on Thursday with the ASX 200 oscillating between positive and negative in the early part of the session. Towards lunch, the main index is lower by 11 points or 0.18% to 6255.

Financials have continued to weigh on the local bourse with the four major banks all lower between 1-2%. Utilities and consumer staples are also contributing to losses. Telcos are still basking in the afterglow of yesterday’s strong performance on the possible merger between TPG Telecom (TPM) Vodafone Hutchison, 50% owned by Hutchison Telecom (HTA). TPM is climbing another 10% while HTA is 65% higher so far. Telstra (TLS) shares are also still moving higher by 3.8%.

Overall, the bias in prices is: Upwards.

The projected upper bound is: 6,346.76.

The projected lower bound is: 6,151.15.

The projected closing price is: 6,248.96.


A black body occurred (because prices closed lower than they opened).
During the past 10 bars, there have been 4 white candles and 6 black candles for a net of 2 black candles. During the past 50 bars, there have been 24 white candles and 26 black candles for a net of 2 black candles.

Three black candles occurred in the last three days. Although these candles were not big enough to create three black crows, the steady downward pattern is bearish.

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 9.3506. This is an oversold reading. However, a signal is not generated until the Oscillator crosses above 20 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 45.91. 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 43 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 -95. 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 sell 1 period(s) ago.

Rex Takasugi – TD Profile

S&P/ASX 200 closed down -21.600 at 6,244.400. Volume was 50% above average (neutral) and Bollinger Bands were 40% narrower than normal.

Open High Low Close Volume___
6,266.0006,275.7006,242.5006,244.400 844,068,352

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

Moving Averages: 10-period 50-period 200-period
Close: 6,296.65 6,243.87 6,047.99
Volatility: 9 10 11
Volume: 596,201,728 555,422,080 555,470,336

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 3.2% 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 5 periods.

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