Suncorp Group Ltd (ASX:SUN) HEFFX Highlights

Suncorp Group Ltd (ASX:SUN) HEFFX Highlights

Suncorp Group Ltd (ASX:SUN) HEFFX Highlights

  • Shares of Suncorp Group Ltd (SUN.AX) are heading in a near-term positive direction as the most recent close of the company has stayed above the Balance Step. The Balance Step reading takes into account the last 5 balance points of the weekly period plotted in step formation on a daily chart.
  • Investors and traders using technical analysis to examine stocks may be interested in taking a look at the ATR or Average True Range in addition to the Balance Step. Currently, Suncorp Group Ltd (SUN.AX) has a 14-day ATR of 0.23.
  • The Average True Range is an investor tool used to measure stock volatility. The ATR is not used to figure out price direction, just to measure volatility. The ATR is an indicator developed by J. Welles Wilder. Wilder has developed multiple indicators that are still quite popular in today’s investing landscape.
  • The general interpretation of the ATR is the higher the ATR value, the higher the volatility.

Suncorp Group Limited is engaged in the provision of general insurance, banking, life insurance, superannuation products and related services to the retail, corporate and commercial sectors in Australia and New Zealand. The Company’s segments include Personal Insurance, which provides home and contents, motor, boat and travel insurance products; Commercial Insurance, which provides commercial motor, commercial property, marine, industrial special risks, loan protection insurance products and others; General Insurance New Zealand, which provides motor, marine, business, rural, travel insurance products and others; Bank, which provides personal and commercial banking, property and equipment finance, home, personal and small business loans and others; Life, which provides superannuation administration services, financial planning and funds administration services, and Corporate, which includes investment of the Company’s capital, business strategy activities and its shared services.

Overall, the bias in prices is: Upwards.

Short term: Prices are moving.

Intermediate term: Prices are trending.

Note: this chart shows extraordinary price action to the upside.

The projected upper bound is: 15.60.

The projected lower bound is: 14.64.

The projected closing price is: 15.12.

SUNCORP FPO closed down -0.070 at 15.100. Volume was 51% below average (consolidating) and Bollinger Bands were 7% narrower than normal.

Open         High         Low            Close         Volume
15.080      15.190       15.050       15.100       1,793,833

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

Moving Averages: 10-period       50-period       200-period
Close:                       14.92               14.46               13.38
Volatility:                16                     21                    21
Volume:                   3,289,766      3,787,364      3,337,322

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

SUNCORP FPO is currently 12.9% above its 200-period moving average and is in an upward trend. Volatility is high as compared to the average volatility over the last 10 periods. Our volume indicators reflect volume flowing into and out of SUN.AX at a relatively equal pace (neutral). Our trend forecasting oscillators are currently bullish on SUN.AX and have had this outlook for the last 20 periods.

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 82.6088. This is an overbought reading. However, a signal is not generated until the Oscillator crosses below 80 The last signal was a sell 11 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 60.97. 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 45 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 119.This is an overbought reading. However, a signal isn’t generated until the indicator crosses below 100. The last signal was a sell 11 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 1 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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