Ramsay Health Care Limited (ASX:RHC) Volatility Low on a Downward Trend
Overall, the bias in prices is: Downwards.
Short term: Prices are moving.
Intermediate term: Prices are ranging.
Note: this chart shows extraordinary price action to the downside.
The projected upper bound is: 68.86.
The projected lower bound is: 64.16.
The projected closing price is: 66.51.
A black body occurred (because prices closed lower 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 32 black candles for a net of 15 black candles.
Three black candles occurred in the last three days. Although these candles were not big enough to create three black crows, the steady downward pattern is bearish.
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 11.9855. This is an oversold reading. However, a signal is not generated until the Oscillator crosses above 20 The last signal was a sell 14 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 33.94. 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 94 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 -164.This is an oversold reading. However, a signal isn’t generated until the indicator crosses above -100. The last signal was a sell 14 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 10 period(s) ago.
Rex Takasugi – TD Profile
RAMSAY FPO closed down -0.530 at 66.550. Volume was 100% above average (neutral) and Bollinger Bands were 6% narrower than normal.
Open High Low Close Volume___
67.000 67.140 65.960 66.550 1,018,336
Short Term: Oversold
Intermediate Term: Bearish
Long Term: Bearish
Moving Averages: 10-period 50-period 200-period
Close: 68.54 69.30 72.86
Volatility: 10 21 28
Volume: 751,649 560,137 429,660
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.
RAMSAY FPO is currently 8.7% below 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 RHC.AX at a relatively equal pace (neutral). Our trend forecasting oscillators are currently bearish on RHC.AX and have had this outlook for the last 3 periods.
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