Bank of Queensland Limited (ASX:BOQ) HEFFX Highlights

Bank of Queensland Limited (ASX:BOQ) HEFFX Highlights

Bank of Queensland Limited (ASX:BOQ) HEFFX Highlights

  • Bank of Queensland has jumped on a growing trend to raise rates across its range of interest-only loans, while also reducing rates for customers making principal and interest repayments.
  • Effective from August 8, interest only loans from BOQ will increase by 0.40%, bringing the current standard variable rate for owner-occupiers up from 5.61%, to 6.01%.
  • According to Mozo’s home loan comparison calculator, on an interest only mortgage of $500,000 over a 25 year term, this change would mean an extra $166 a month in interest, or an extra $50,000 over the life of the loan.

Bank of Queensland Limited (BOQ) is an Australia-based financial company. The Company’s segments include Banking and Insurance. The Banking segment includes retail banking, commercial, personal, small business loans, equipment, debtor finance, treasury, savings and transaction accounts. The Insurance segment includes customer credit insurance, life insurance, accidental death insurance, funeral insurance and motor vehicle gap insurance. The Company’s online banking services include Internet banking, mobile banking, BOQ property application, online applications and BOQ money. The Company’s personal banking offering includes everyday banking, savings and investment, credit cards, personal loans, home loans, insurance, international services, investing, private bank and account switching among others. Its business banking includes transaction accounts, investment accounts, statutory trust accounts, investment trust accounts, business loans, cash flow finance and equipment finance.

Overall, the bias in prices is: Upwards.

Short term: Prices are moving.

Intermediate term: Prices are ranging.

The projected upper bound is: 12.43.

The projected lower bound is: 11.47.

The projected closing price is: 11.95.

BANK QLD FPO closed up 0.140 at 11.950. Volume was 12% below average (neutral) and Bollinger Bands were 58% wider than normal.

Open High Low Close Volume___
11.890 11.975 11.730 11.950 1,681,827

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

Moving Averages: 10-period 50-period 200-period
Close: 11.69 11.42 11.50
Volatility: 27 27 24
Volume: 1,603,522 1,728,730 1,816,703

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

BANK QLD FPO is currently 3.9% above its 200-period moving average and is in an upward trend. Volatility is high as compared to the average volatility over the last 10 periods. Our volume indicators reflect moderate flows of volume into BOQ.AX (mildly bullish). Our trend forecasting oscillators are currently bullish on BOQ.AX and have had this outlook for the last 8 periods. The security price has set a new 14-period high while our momentum oscillator has not. This is a bearish divergence.

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 65.3696. 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 63.57. 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 buy 22 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 93. This is not a topping or bottoming area. The last signal was a sell 2 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 20 period(s) ago.

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John Heffernan

John Heffernan is a Junior Analyst at HEFFX. John is studying Economics and is a contributor on equities at Live Trading News.

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