SET Index (INDEXBKK:SET) Bangkok HEFFX Outlook (17/4/17)

SET Index (INDEXBKK:SET) Bangkok HEFFX Outlook (17/4/17)

SET Index(INDEXBKK:SET) Bangkok HEFFX Outlook (17/4/17)

Overall, the bias in prices is: Sideways.

Short term: Prices are stalling.

Intermediate term: Prices are ranging.

By the way, prices are vulnerable to a correction towards 1,561.18.

The projected upper bound is: 1,594.66.

The projected lower bound is: 1,557.10.

The projected closing price is: 1,575.88.

SET Index closed down -13.590 at 1,575.910. Volume was 32% below average (neutral) and Bollinger Bands were 38% narrower than normal.

Open              High               Low                 Close            Volume
1,585.780      1,585.960      1,574.800      1,575.910     6,429,045,248

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

Moving Averages: 10-period               50-period                 200-period
Close:                       1,581.47                  1,569.77                   1,522.91
Volatility:                7                               8                               15
Volume:                  8,050,912,256       9,358,515,200       10,979,972,096

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.

Bangkok Summary
SET Index is currently 3.5% above its 200-period moving average and is in an upward trend. Volatility is relatively normal as compared to the average volatility over the last 10 periods. Our volume indicators reflect volume flowing into and out of .SETI at a relatively equal pace (neutral). Our trend forecasting oscillators are currently bullish on .SETI and have had this outlook for the last 13 periods. our momentum oscillator has set a new 14-period low while the security price has not. This is a bearish divergence.

Thailand, Bangkok, Asia, HEFFX, SET, Index, BKK, Shayne Heffernan, Outlook

HEFFX Candlesticks Bangkok

A big black candle occurred. This is bearish, as prices closed significantly lower than they opened. If the candle appears when prices are “high,” it may be the first sign of a top. If it occurs when prices are confronting an overhead resistance area (e.g., a moving average, trendline, or price resistance level), the long black candle adds credibility to the resistance. Similarly, if the candle appears as prices break below a support area, the long black candle confirms the failure of the support area.

During the past 10 bars, there have been 7 white candles and 3 black candles for a net of 4 white candles. During the past 50 bars, there have been 25 white candles and 25 black candles.

HEFFX Momentum Bangkok

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 57.1902. This is not an overbought or oversold reading. The last signal was a sell 10 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 52.09. 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 50 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 -8. This is not a topping or bottoming area. The last signal was a sell 0 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 18 period(s) ago.

 

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John Heffernan

John Heffernan is a Junior Analyst at HEFFX. John is studying Economics and is a contributor on equities at Live Trading News.

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