S&P/ASX 200(INDEXASX:XJO) Australia HEFFX Trading Outlook

S&P/ASX 200(INDEXASX:XJO) Australia HEFFX Trading Outlook

S&P/ASX 200(INDEXASX:XJO) Australia HEFFX Trading Outlook

Overall, the bias in prices is: Upwards.

Short term: Prices are stalling.

Intermediate term: Prices are trending.

By the way, prices are vulnerable to a correction towards 5,561.65.

The projected upper bound is: 5,834.32.

The projected lower bound is: 5,572.43.

The projected closing price is: 5,703.37.

S&P/ASX 200 closed up 15.346 at 5,694.100. Volume was 56% below average (consolidating) and Bollinger Bands were 26% narrower than normal.

Open             High             Low              Close            Volume
5,678.800   5,720.900   5,678.800   5,694.100    269,702,464

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

Moving Averages: 10-period           50-period        200-period
Close:                       5,740.39            5,545.01           5,401.99
Volatility:                11                        15                       15
Volume:                   498,517,248    618,644,032    605,599,808

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 Australia
S&P/ASX 200 is currently 5.4% 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 moderate flows of volume into .AXJO (mildly bullish). Our trend forecasting oscillators are currently bullish on .AXJO and have had this outlook for the last 38 periods.

Australia, S&P/ASX 200, XJO, HEFFX, Outlook, Shayne Heffernan,

HEFFX Momentum Australia
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 17.4714. This is an oversold reading. However, a signal is not generated until the Oscillator crosses above 20 The last signal was a sell 7 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 54.30. 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 7 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 -87. This is not a topping or bottoming area. The last signal was a buy 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 sell 4 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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