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

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

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

Heffx Notes S&P/ASX 200

Overall, the bias in prices is: Upwards.

Short term: Prices are stalling.

Intermediate term: Prices are ranging.

The projected upper bound is: 5,648.14.

The projected lower bound is: 5,396.92.

The projected closing price is: 5,522.53.

S&P/ASX 200 closed down -26.421 at 5,515.470. Volume was 0% above average (neutral) and Bollinger Bands were 63% narrower than normal

Open           High             Low             Close            Volume
5,541.900   5,544.400   5,513.700   5,515.470    605,385,152

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

Moving Averages: 10-period         50-period          200-period
Close:                      5,532.94            5,417.05             5,193.86
Volatility:               7                         15                         19
Volume:                 585,795,072     579,549,952      631,613,504

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 S&P/ASX 200
S&P/ASX 200 is currently 6.2% 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 volume flowing into and out of .AXJO at a relatively equal pace (neutral). Our trend forecasting oscillators are currently bearish on .AXJO and have had this outlook for the last 4 periods. our momentum oscillator has set a new 14-period low while the security price has not. This is a bearish divergence.

S&P/ASX 200

HEFFX Momentum S&P/ASX 200
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 50.9924. This is not an overbought or oversold reading. The last signal was a buy 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 52.19. 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 18 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 -49. This is not a topping or bottoming area. The last signal was a sell 1 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 17 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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