SET Index(INDEXBKK:SET) Thailand HEFFX Outlook

SET Index(INDEXBKK:SET) Thailand HEFFX Outlook

SET Index(INDEXBKK:SET) Thailand HEFFX Outlook

Overall, the bias in prices is: Sideways.

Short term: Prices are stalling.

Intermediate term: Prices are ranging.

The projected upper bound is: 1,581.37.

The projected lower bound is: 1,539.35.

The projected closing price is: 1,560.36.

SET Index closed up 1.530 at 1,559.560. Volume was 14% below average (neutral) and Bollinger Bands were 48% narrower than normal.

Open              High              Low              Close             Volume
1,559.480     1,563.960     1,557.930     1,559.560     8,812,756,992

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

Moving Averages: 10-period                 50-period              200-period
Close:                       1,569.17                    1,562.05                 1,499.34
Volatility:                7                                 9                              15
Volume:                   10,747,630,592      9,859,953,664      11,295,485,952

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 4.0% above its 200-period moving average and is in an downward trend. Volatility is relatively normal 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 7 periods.

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

HEFFX Candlesticks Thailand
A white body occurred (because prices closed higher than they opened).
During the past 10 bars, there have been 4 white candles and 6 black candles for a net of 2 black candles. During the past 50 bars, there have been 25 white candles and 25 black candles.

A long upper shadow occurred. This is typically a bearish signal (particularly when it occurs near a high price level, at resistance level, or when the security is overbought).

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 14.5916. This is an oversold reading. However, a signal is not generated until the Oscillator crosses above 20 The last signal was a buy 16 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 42.76. 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 19 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 -110.This is an oversold reading. However, a signal isn’t generated until the indicator crosses above -100. The last signal was a buy 8 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 sell 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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