National Australia Bank Ltd (ASX:NAB) Stock Overbought
Overall, the bias in prices is: Upwards.
Short term: Prices are moving.
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 31.35.
The projected upper bound is: 33.68.
The projected lower bound is: 32.23.
The projected closing price is: 32.95.
A black body occurred (because prices closed lower than they opened).
During the past 10 bars, there have been 6 white candles and 3 black candles for a net of 3 white candles. During the past 50 bars, there have been 23 white candles and 23 black candles.
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 84.3658. This is an overbought reading. However, a signal is not generated until the Oscillator crosses below 80 The last signal was a sell 12 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 68.69. This is not a topping or bottoming area. However, the RSI just crossed below 70 from a topping formation. This is a bearish sign. A buy or sell signal is generated when the RSI moves out of an overbought/oversold area. The last signal was a sell 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 103.This is an overbought reading. However, a signal isn’t generated until the indicator crosses below 100. The last signal was a sell 7 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 23 period(s) ago.
Rex Takasugi – TD Profile
NAT. BANK FPO closed down -0.230 at 32.910. Volume was 20% below average (neutral) and Bollinger Bands were 25% narrower than normal.
Open High Low Close Volume___
33.070 33.280 32.840 32.910 3,939,236
Short Term: Overbought
Intermediate Term: Bullish
Long Term: Bullish
Moving Averages: 10-period 50-period 200-period
Close: 32.60 31.39 28.33
Volatility: 12 15 21
Volume: 3,624,265 4,203,756 5,059,822
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.
NAT. BANK FPO is currently 16.2% above its 200-period moving average and is in an upward trend. Volatility is Our volume indicators reflect volume flowing into and out of NAB.AX at a relatively equal pace (neutral). Our trend forecasting oscillators are currently bullish on NAB.AX and have had this outlook for the last 17 periods.
We are aware of the heightened political tensions globally, these must be monitored daily to protect your portfolio.
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