Philippines: Rizal Commercial Banking Corp (RCB:PS) Stock Consolidating

Philippines: Rizal Commercial Banking Corp (RCB:PS) Stock Consolidating

Philippines: Rizal Commercial Banking Corp (RCB:PS) Stock Consolidating

Overall, the bias in prices is: Downwards.

Note: this chart shows extraordinary price action to the downside.

By the way, prices are vulnerable to a correction towards 44.16.

The projected upper bound is: 40.23.

The projected lower bound is: 35.43.

The projected closing price is: 37.83.

Candlesticks

A black body occurred (because prices closed lower than they opened).
During the past 10 bars, there have been 2 white candles and 8 black candles for a net of 6 black candles. During the past 50 bars, there have been 15 white candles and 30 black candles for a net of 15 black candles.

Momentum Indicators

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 44.3182. This is not an overbought or oversold reading. The last signal was a buy 1 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 35.55. 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 1 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 -70. This is not a topping or bottoming area. The last signal was a buy 1 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 4 period(s) ago.

Rex Takasugi – TD Profile

RIZAL COMM’L BK closed down -0.950 at 38.000. Volume was 55% below average (consolidating) and Bollinger Bands were 66% wider than normal.

Open High Low Close Volume___
38.900 38.900 37.800 38.000 112,600

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

Moving Averages: 10-period 50-period 200-period
Close: 38.31 43.27 51.04
Volatility: 31 37 43
Volume: 360,210 143,034 417,691

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

RIZAL COMM’L BK is currently 25.5% 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 into RCB.PS (mildly bullish). Our trend forecasting oscillators are currently bearish on RCB.PS and have had this outlook for the last 26 periods.

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