Chartists are paying particular close attention to shares of Brambles Ltd (BXB.AX) as the equity has touched the near-term bottom Bollinger Band, touching 9.45 on a recent trade. Using this along with several other technical indicators can help investors understand if the shares will continue the downward momentum or bounce back up from the band.
Brambles Ltd (BXB.AX) currently has a 14-day Commodity Channel Index (CCI) of -74.08. Active investors may choose to use this technical indicator as a stock evaluation tool. Used as a coincident indicator, the CCI reading above +100 would reflect strong price action which may signal an uptrend. On the flip side, a reading below -100 may signal a downtrend reflecting weak price action. Using the CCI as a leading indicator, technical analysts may use a +100 reading as an overbought signal and a -100 reading as an oversold indicator, suggesting a trend reversal.
Overall, the bias in prices is: Downwards.
Short term: Prices are stalling.
Intermediate term: Prices are trending.
Note: this chart shows extraordinary price action to the downside.
By the way, prices are vulnerable to a correction towards 9.91.
The projected upper bound is: 9.75.
The projected lower bound is: 9.13.
The projected closing price is: 9.44.
A black body occurred (because prices closed lower than they opened).
During the past 10 bars, there have been 3 white candles and 7 black candles for a net of 4 black candles. During the past 50 bars, there have been 16 white candles and 33 black candles for a net of 17 black candles.
Three black candles occurred in the last three days. Although these candles were not big enough to create three black crows, the steady downward pattern is bearish.
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 12.8115. This is an oversold reading. However, a signal is not generated until the Oscillator crosses above 20 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 36.70. 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 9 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 -74. This is not a topping or bottoming area. 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
BRAMB LTD FPO closed up 0.010 at 9.460. Volume was 44% below average (neutral) and Bollinger Bands were 25% narrower than normal.
Open High Low Close Volume
9.520 9.530 9.425 9.460 2,683,813
Short Term: Oversold
Intermediate Term: Bearish
Long Term: Bearish
Moving Averages: 10-period 50-period 200-period
Close: 9.57 10.06 10.66
Volatility: 18 20 36
Volume: 5,987,204 4,605,365 4,523,259
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.
BRAMB LTD FPO is currently 11.3% below its 200-period moving average and is in an downward 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 BXB.AX at a relatively equal pace (neutral). Our trend forecasting oscillators are currently bearish on BXB.AX and have had this outlook for the last 35 periods.
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