BHP Billiton Limited (ASX:BHP) Heffx Technicals Stock Overbought
Overall, the bias in prices is: Upwards.
Short term: Prices are moving.
Intermediate term: Prices are trending.
The projected upper bound is: 27.10.
The projected lower bound is: 24.29.
The projected closing price is: 25.70.
A big white candle occurred. This is generally considered bullish, as prices closed significantly higher than they opened. If the candle appears when prices are “low,” it may be the first sign of a bottom. If it occurs when prices are rebounding off of a support area (e.g., a moving average, trendline, or retracement level), the long white candle adds credibility to the support. Similarly, if the candle appears during a breakout above a resistance area, the long white candle adds credibility to the breakout.
During the past 10 bars, there have been 7 white candles and 3 black candles for a net of 4 white candles. During the past 50 bars, there have been 25 white candles and 25 black candles.
Three white candles occurred in the last three days. Although these candles were not big enough to create three white soldiers, the steady upward pattern is bullish.
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.
One method of interpreting the Stochastic Oscillator is looking for overbought areas (above 80) and oversold areas (below 20). The Stochastic Oscillator is 91.5492. This is an overbought reading. However, a signal is not generated until the Oscillator crosses below 80 The last signal was a buy 9 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 62.08. 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 51 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 232.This is an overbought reading. However, a signal isn’t generated until the indicator crosses below 100. The last signal was a buy 9 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 buy 6 period(s) ago.
Rex Takasugi – TD Profile
BHP BLT FPO closed up 1.140 at 25.730. Volume was 40% above average (neutral) and Bollinger Bands were 20% narrower than normal.
Open High Low Close Volume___
24.650 25.790 24.630 25.730 11,809,376
Short Term: Overbought
Intermediate Term: Bullish
Long Term: Bullish
Moving Averages: 10-period 50-period 200-period
Close: 24.36 25.20 23.30
Volatility: 31 36 36
Volume: 8,255,810 8,251,179 8,878,217
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.
BHP BLT FPO is currently 10.4% 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 BHP.AX at a relatively equal pace (neutral). Our trend forecasting oscillators are currently bullish on BHP.AX and have had this outlook for the last 0 periods.
Latest posts by HEFFX Australia (see all)
- Gold 1 OZ (XAU=X) solid resistance at $1,566.20 - September 17, 2019
- Japanese Yen: USD/JPY (JPY=X) testing weekly downtrend resistance ahead of Fed - September 17, 2019
- Australia: S&P/ASX 200 (.AXJO) shares subdued ahead of the U.S. Federal Reserve’s policy meeting - September 17, 2019