QBE Insurance Group Ltd (ASX:QBE) Stock Advancing
Overall, the bias in prices is: Upwards.
Short term: Prices are moving.
Intermediate term: Prices are ranging.
Note: this chart shows extraordinary price action to the upside.
The projected upper bound is: 13.77.
The projected lower bound is: 12.52.
The projected closing price is: 13.15.
A white body occurred (because prices closed higher than they opened).
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 30 black candles for a net of 13 black candles.
A rising window occurred (where the top of the previous shadow is below the bottom of the current shadow). This usually implies a continuation of a bullish trend. There have been 4 rising windows in the last 50 candles–this makes the current rising window even more bullish.
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 52.5253. This is not an overbought or oversold reading. The last signal was a buy 0 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 62.84. 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 42 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 161.This is an overbought reading. However, a signal isn’t generated until the indicator crosses below 100. The last signal was a sell 6 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 3 period(s) ago.
Rex Takasugi – TD Profile
QBE INSUR. FPO closed up 0.830 at 13.130. Volume was 68% below average (consolidating) and Bollinger Bands were 27% narrower than normal.
Open High Low Close Volume___
13.000 13.280 12.980 13.130 2,036,464
Short Term: Neutral
Intermediate Term: Bullish
Long Term: Bullish
Moving Averages: 10-period 50-period 200-period
Close: 12.67 12.47 11.16
Volatility: 46 32 36
Volume: 5,118,336 5,732,179 5,723,812
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.
QBE INSUR. FPO gapped up today (bullish) on light volume. Possibility of a Common Gap which usually coincides with a lack of interest in the security. Common Gaps are fairly irrelevent for forecasting purposes. Four types of price gaps exist – Common, Breakaway, Runaway, and Exhaustion. Gaps acts as support/resistance.
QBE INSUR. FPO is currently 17.7% above its 200-period moving average and is in an upward trend. Volatility is extremely high when compared to the average volatility over the last 10 periods. There is a good possibility that volatility will decrease and prices will stabilize in the near term. Our volume indicators reflect volume flowing into and out of QBE.AX at a relatively equal pace (neutral). Our trend forecasting oscillators are currently bullish on QBE.AX and have had this outlook for the last 8 periods. The security price has set a new 14-period high while our momentum oscillator has not. This is a bearish divergence.
We are aware of the heightened political tensions globally, these must be monitored daily to protect your portfolio.
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