SET Index(INDEXBKK:SET) Thailand HEFFX Outlook 09/03/17

SET Index(INDEXBKK:SET) Thailand HEFFX Outlook 09/03/17

SET Index(INDEXBKK:SET) Thailand HEFFX Outlook 09/03/17

Overall, the bias in prices is: Sideways.

Short term: Prices are stalling.

Intermediate term: Prices are ranging.

The projected upper bound is: 1,571.17.

The projected lower bound is: 1,528.67.

The projected closing price is: 1,549.92.

SET Index closed down -2.490 at 1,549.240. Volume was 11% below average (neutral) and Bollinger Bands were 32% narrower than normal.

Open              High             Low                Close             Volume
1,548.230     1,551.200     1,544.620     1,549.240     9,008,969,728

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

Moving Averages: |10-period               |50-period                |200-period
Close:                       |1,559.00                 |1,568.31                   |1,505.03
Volatility:                |6                              |9                                |15
Volume:                  |9,696,830,464      |10,093,241,344      |11,231,055,872

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 Thailand
SET Index is currently 2.9% above its 200-period moving average and is in an downward trend. Volatility is low as compared to the average volatility over the last 10 periods. Our volume indicators reflect moderate flows of volume out of .SETI (mildly bearish). Our trend forecasting oscillators are currently bearish on .SETI and have had this outlook for the last 14 periods. The security price has set a new 14-period low while our momentum oscillator has not. This is a bullish divergence.

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

HEFFX Momentum Thailand
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 32.8482. This is not an overbought or oversold reading. The last signal was a buy 6 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 38.47. 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 26 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 -126.This is an oversold reading. However, a signal isn’t generated until the indicator crosses above -100. The last signal was a buy 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 25 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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