Fairfax Media Limited (ASX:FXJ) Technicals Bearish Divergence
Overall, the bias in prices is: Upwards.
Short term: Prices are stalling.
Intermediate term: Prices are trending.
Note: this chart shows extraordinary price action to the upside.
By the way, prices are vulnerable to a correction towards 1.04.
The projected upper bound is: 1.12.
The projected lower bound is: 1.04.
The projected closing price is: 1.08.
A black body occurred (because prices closed lower than they opened).
During the past 10 bars, there have been 3 white candles and 5 black candles for a net of 2 black candles. During the past 50 bars, there have been 20 white candles and 21 black candles for a net of 1 black candles.
A long lower shadow occurred. This is typically a bullish signal (particularly when it occurs near a low price level, at a support level, or when the security is oversold).
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 20.4380. 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 53.72. 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 2 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 -85. 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
FAIRFAX FPO closed down -0.010 at 1.075. Volume was 118% above average (neutral) and Bollinger Bands were 11% narrower than normal.
Open High Low Close Volume___
1.080 1.082 1.055 1.075 17,913,118
Short Term: Neutral
Intermediate Term: Bullish
Long Term: Bullish
Moving Averages: 10-period 50-period 200-period
Close: 1.10 1.01 1.03
Volatility: 19 25 36
Volume: 10,087,992 7,651,393 10,926,337
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.
FAIRFAX FPO is currently 4.0% 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 volume flowing into and out of FXJ.AX at a relatively equal pace (neutral). Our trend forecasting oscillators are currently bullish on FXJ.AX and have had this outlook for the last 25 periods. our momentum oscillator has set a new 14-period low while the security price has not. This is a bearish divergence.