Australia: S&P/ASX 200 (.AXJO) Stocks on the Rise

Australia: S&P/ASX 200 (.AXJO) Stocks on the Rise

Australia: S&P/ASX 200 (.AXJO) Stocks on the Rise

Australian shares rose on Tuesday as investors found value in beaten-down banks and as energy stocks jumped on higher oil prices.

The S&P/ASX 200 index rose 0.4 percent, or 27.1 points, to 6,168.8 by 0200 GMT. The benchmark, which dipped 2.1 points on Monday, was on track to snap eight sessions of consecutive losses.

“It’s probably just bargain hunting…and the leads from the U.S. were mostly positive,” said Christopher Conway, Head of research and trading at the Australian Stock Report.

Financials, which account for nearly half of the Aussie benchmark, were up 0.5 percent after shedding about 3.5 percent in the past eight sessions.

Top lender Commonwealth Bank of Australia rose 1.2 percent to a more than one-week high, while investment bank Macquarie Group Ltd firmed 1 percent.

Macquarie said on Tuesday it expects group’s fiscal year 2019 result to be broadly in line with fiscal 2018.

Overall, the bias in prices is: Sideways.

The projected upper bound is: 6,276.74.

The projected lower bound is: 6,081.44.

The projected closing price is: 6,179.09.


A white body occurred (because prices closed higher than they opened).
During the past 10 bars, there have been 2 white candles and 8 black candles for a net of 6 black candles. During the past 50 bars, there have been 23 white candles and 27 black candles for a net of 4 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 25.0433. This is not an overbought or oversold reading. The last signal was a buy 0 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 39.82. 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 56 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 -102.This is an oversold reading. However, a signal isn’t generated until the indicator crosses above -100. The last signal was a sell 7 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 4 period(s) ago.

Rex Takasugi – TD Profile

S&P/ASX 200 closed up 38.000 at 6,179.700. Volume was 6% below average (neutral) and Bollinger Bands were 36% wider than normal.

Open High Low Close Volume___
6,141.7006,181.5006,139.3006,179.700 534,876,704

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

Moving Averages: 10-period 50-period 200-period
Close: 6,248.35 6,263.32 6,065.43
Volatility: 11 10 11
Volume: 600,901,568 555,227,840 562,757,120

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 1.9% 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 3 periods.

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