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Australia: S&P/ASX 200 (.AXJO) Trading Higher


Australia: S&P/ASX 200 (.AXJO) Trading Higher

Australia stocks were higher after the close on Monday, as gains in the Metals & Mining, Materials and Resources sectors led shares higher.

At the close in Sydney, the S&P/ASX 200 rose 0.27%.

The best performers of the session on the S&P/ASX 200 were NRW Holdings Ltd (ASX:NWH), which rose 13.33% or 0.300 points to trade at 2.550 at the close. Meanwhile, Pilbara Minerals Ltd (ASX:PLS) added 10.14% or 0.035 points to end at 0.380 and Galaxy Resources Ltd (ASX:GXY) was up 9.74% or 0.095 points to 1.070 in late trade.

The worst performers of the session were Costa Group Holdings Ltd (ASX:CGC), which fell 2.59% or 0.070 points to trade at 2.630 at the close. National Australia Bank Ltd (ASX:NAB) declined 2.53% or 0.720 points to end at 27.690 and JB Hi-Fi Ltd (ASX:JBH) was down 2.18% or 0.800 points to 35.830.

Rising stocks outnumbered declining ones on the Sydney Stock Exchange by 670 to 505 and 330 ended unchanged.

Shares in Costa Group Holdings Ltd (ASX:CGC) fell to 3-years lows; losing 2.59% or 0.070 to 2.630.

The S&P/ASX 200 VIX, which measures the implied volatility of S&P/ASX 200 options, was up 0.76% to 11.400.

Technical Indicators

Overall, the bias in prices is: Sideways.

By the way, prices are vulnerable to a correction towards 6,628.25.

The projected upper bound is: 6,818.71.

The projected lower bound is: 6,564.96.

The projected closing price is: 6,691.84.


A white body occurred (because prices closed higher than they opened).
During the past 10 bars, there have been 8 white candles and 2 black candles for a net of 6 white candles. During the past 50 bars, there have been 34 white candles and 16 black candles for a net of 18 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 28.6456. This is not an overbought or oversold reading. The last signal was a sell 3 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 52.48. 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 85 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 -1. This is not a topping or bottoming area. The last signal was a sell 3 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 up 17.800 at 6,686.900. Volume was 19% below average (neutral) and Bollinger Bands were 25% narrower than normal.

Open     High      Low     Close     Volume___
6,669.1006,713.5006,669.1006,686.900 516,824,672
Technical Outlook 
Short Term: Neutral
Intermediate Term: Bullish
Long Term: Bullish
Moving Averages: 10-period     50-period     200-period
Close: 6,697.31 6,646.10 6,436.07
Volatility: 8 12 13
Volume: 569,584,576 641,522,624 640,774,400

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 3.9% above its 200-period moving average and is in an upward trend. Volatility is extremely low when compared to the average volatility over the last 10 periods. There is a good possibility that there will be an increase in volatility along with sharp price fluctuations in the near future. 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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