Australia: S&P/ASX 200 (.AXJO) shares have hit a fresh ten-year high

Australia: S&P/ASX 200 (.AXJO) shares have hit a fresh ten-year high

Australia: S&P/ASX 200 (.AXJO) shares have hit a fresh ten-year high

Australian shares have hit a fresh ten-year high, with a surge in CSL stocks and gains for Wesfarmers helping the market overcome falls in energy and materials stocks.

The benchmark S&P/ASX200 closed up 29.4 points, or 0.47 per cent, at 6,329.0 points , while the All Ordinaries was up 29.5 points, or 0.46 per cent, at 6,415.7 points.

CSL shares vaulted 6.4 per cent to $214.58 with the blood products and vaccines group adding 21 points to the index after it posted a 29 per cent increase in net profit and lifted its dividend by 30 per cent.

Overall, the bias in prices is: Upwards.

The projected upper bound is: 6,431.02.

The projected lower bound is: 6,240.34.

The projected closing price is: 6,335.68.

Candlesticks

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 25 white candles and 25 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 68.2393. This is not an overbought or oversold reading. The last signal was a sell 10 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 60.75. 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 37 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 164.This is an overbought reading. However, a signal isn’t generated until the indicator crosses below 100. The last signal was a sell 3 period(s) ago.

MACD

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 29.400 at 6,329.000. Volume was 2% below average (neutral) and Bollinger Bands were 55% narrower than normal.

Open High Low Close Volume___
6,299.6006,329.0006,274.7006,329.000 538,152,832

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

Moving Averages: 10-period 50-period 200-period
Close: 6,272.80 6,212.17 6,037.01
Volatility: 9 10 11
Volume: 508,926,592 544,729,728 551,160,640

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.

Summary

S&P/ASX 200 is currently 4.8% above its 200-period moving average and is in an downward trend. Volatility is low 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 9 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.

Latest posts by HEFFX Australia (see all)

You must be logged in to post comments :  
CONNECT WITH