GPT Group (ASX:GPT) HEFFX Trading Outlook

GPT Group (ASX:GPT) HEFFX Trading Outlook

GPT Group (ASX:GPT) HEFFX Trading Outlook

The GPT Group (GPT) is a property company that owns and manages a diversified portfolio of Australian retail, office and logistics property assets. The Company’s segments include Retail, Office, Logistics, Funds Management and Corporate. Its Retail segment owns, develops and manages regional and sub-regional shopping centers, as well as GPT’s equity investment in GPT Wholesale Shopping Centre Fund. Its Office segment owns, develops and manages central business district (CBD) office properties with some associated retail space, as well as GPT’s equity investment in GPT Wholesale Office Fund. Its Logistics segment owns, develops and manages logistics and business park assets. Its Funds Management segment manages two Australian wholesale property funds in the retail and office sectors. GPT owns and manages real estate assets, including the MLC Centre and Australia Square in Sydney; Melbourne Central and Highpoint Shopping Centre in Melbourne, and One One One Eagle Street in Brisbane.

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 5.00.

The projected upper bound is: 4.92.

The projected lower bound is: 4.56.

The projected closing price is: 4.74.

GPT STAPLED closed up 0.070 at 4.750. Volume was 5% below average (neutral) and Bollinger Bands were 137% wider than normal.

Open       High       Low        Close      Volume
4.730      4.780      4.720      4.750     4,952,158

Technical Outlook
Short Term: Neutral
Intermediate Term: Bearish
Long Term: Bearish

Moving Averages: 10-period       50-period       200-period
Close:                       4.77                 5.12                 4.95
Volatility:                33                    22                    21
Volume:                  5,803,343      5,040,025      5,306,411

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

GPT STAPLED is currently 4.0% below its 200-period moving average and is in an downward trend. Volatility is high as compared to the average volatility over the last 10 periods. Our volume indicators reflect moderate flows of volume out of GPT.AX (mildly bearish). Our trend forecasting oscillators are currently bearish on GPT.AX and have had this outlook for the last 14 periods.

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 28.8889. This is not an overbought or oversold reading. The last signal was a buy 5 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 35.47. This is not a topping or bottoming area. However, the RSI just crossed above 30 from a bottoming formation. This is a bullish sign. A buy or sell signal is generated when the RSI moves out of an overbought/oversold area. The last signal was a buy 0 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 -64. This is not a topping or bottoming area. The last signal was a buy 5 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 sell 15 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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