Executive remuneration has raised eyebrows in the past, but the shareholder vote to endorse pay sailed through relatively unscathed despite talk of proxy advisors ISS pushing for a first strike vote on executive pay and the Australian Shareholders’ Association demanding greater transparency.
Chief executive Nicholas Moore will retain his spot as Australia’s highest paid executive with an $18.7 million package, while two other Macquarie executives earn around $17 million.
Overall, the bias in prices is: Downwards.
Short term: Prices are moving.
Intermediate term: Prices are trending.
By the way, prices are vulnerable to a correction towards 87.99.
The projected upper bound is: 88.00.
The projected lower bound is: 81.99.
The projected closing price is: 85.00.
A big black candle occurred. This is bearish, as prices closed significantly lower than they opened. If the candle appears when prices are “high,” it may be the first sign of a top. If it occurs when prices are confronting an overhead resistance area (e.g., a moving average, trendline, or price resistance level), the long black candle adds credibility to the resistance. Similarly, if the candle appears as prices break below a support area, the long black candle confirms the failure of the support area.
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 17 white candles and 33 black candles for a net of 16 black candles.
Separating lines occurred. If the lines occur during an uptrend and the first line is black and the second is white (which is not the case with MACQUARIE GROUP) then this suggests that the uptrend should continue.
If the separating lines occur during a downtrend (which appears to be the case with MACQUARIE GROUP) and the first line is white and the second is black (which is the case with MACQUARIE GROUP) then this suggests that the downtrend should continue.
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 57.5382. This is not an overbought or oversold reading. The last signal was a buy 3 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 39.91. 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 62 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 -90. This is not a topping or bottoming area. The last signal was a buy 2 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 15 period(s) ago.
Rex Takasugi – TD Profile
MACQUARIE GROUP closed down -2.320 at 85.050. Volume was 95% above average (neutral) and Bollinger Bands were 5% narrower than normal.
Open High Low Close Volume
86.550 86.620 84.930 85.050 2,214,750
Short Term: Neutral
Intermediate Term: Bearish
Long Term: Bearish
Moving Averages: 10-period 50-period 200-period
Close: 86.27 88.24 86.64
Volatility: 23 22 24
Volume: 1,070,555 1,117,848 1,069,636
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.
MACQUARIE GROUP is currently 1.8% below its 200-period moving average and is in an downward trend. Volatility is Our volume indicators reflect volume flowing into and out of MQG.AX at a relatively equal pace (neutral). Our trend forecasting oscillators are currently bearish on MQG.AX and have had this outlook for the last 10 periods.
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