Origin Energy Ltd (ASX:ORG) Down 1.54%

Origin Energy Ltd (ASX:ORG) Down 1.54%

Origin Energy Ltd (ASX:ORG) Down 1.54%

  • Origin offers a two-week payment extension but says it’s vital for those experiencing financial hardship to approach them sooner rather than later.
  • “There’s a lot more options available to us early in the piece than if we start to have a conversation down the track,” Ryan Auger from Origin Energy said.
  • Shares of Origin Energy Ltd (OGFGY) have seen the needle move 1.54% or 0.08 in the most recent session. The OTC listed company saw a recent bid of $5.2700 on 37075 volume.

Origin Energy Limited is an integrated energy company. The Company is engaged in exploration, production, generation and the sale of energy to households and businesses across Australia. Its segments include Energy Markets, Integrated Gas, Contact Energy and Corporate. The Company’s exploration and production portfolio includes the Bowen, Surat and Cooper/Eromanga basins in Central Australia, the Otway and Bass basins in Southern Australia, as well as interests in the Browse and Perth Basin in Western Australia, and the Bonaparte and Beetaloo Basin in the Northern Territory. It also has exploration projects located in New Zealand in the Taranaki and Canterbury basins, as well as in Vietnam. It jointly owns and wholly operates gas-producing facilities in Australia and New Zealand, including the BassGas and Otway Gas Production plants in Victoria, coal seam gas (CSG) production plants as part of the Australia Pacific LNG Project in Queensland, and the Kupe Gas Project in New Zealand.

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 7.15.

The projected upper bound is: 7.31.

The projected lower bound is: 6.52.

The projected closing price is: 6.91.

 

ORIGIN ENE FPO closed up 0.020 at 6.920. Volume was 45% below average (neutral) and Bollinger Bands were 34% narrower than normal.

Open       High        Low        Close       Volume
6.880      6.955      6.870      6.920      3,150,732

Technical Outlook
Short Term: Oversold
Intermediate Term: Bearish
Long Term: Bullish

Moving Averages: 10-period       50-period       200-period
Close:                       6.92                 7.40                6.68
Volatility:                17                     34                    36
Volume:                   5,268,495      5,989,108      5,750,487

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

ORIGIN ENE FPO is currently 3.6% above its 200-period moving average and is in an downward trend. Volatility is extremely low when compared to the average volatility over the last 10 periods. There is a good possibility that there will be an increase in volatility along with sharp price fluctuations in the near future. Our volume indicators reflect volume flowing into and out of ORG.AX at a relatively equal pace (neutral). Our trend forecasting oscillators are currently bearish on ORG.AX and have had this outlook for the last 25 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 19.1920. This is an oversold reading. However, a signal is not generated until the Oscillator crosses above 20 The last signal was a buy 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 41.79. 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 13 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 10. This is not a topping or bottoming area. The last signal was a buy 9 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 buy 6 period(s) ago.

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John Heffernan

John Heffernan is an Analyst at HEFFX. John is a BSc in Economics with Honors from the University of Buckingham, and is a contributor on equities at Live Trading News.

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