UK FTSE All Share (.FTAS) inches higher, Glencore takes a tumble
The UK’s top share index climbed on Tuesday following a shaky start to the month, although mining giant Glencore fell after one of its subsidiaries received a U.S. subpoena.
The blue-chip FTSE 100 index was up 0.3 percent at 7,571.59 points by 0855 GMT, making back some of Monday’s 1.2 percent loss when concerns over global trade hit risky assets.
On the FTSE, consumer staples, health stocks and financials added the most points to the index.
Shares in IAG were among the top gainers, up 2.3 percent on the back of a supportive research note from Credit Suisse in which analysts raised their price target for the British Airways-owner, saying that they expect efficiency gains to drive up margins.
Miners, however, were a weak spot as Glencore dropped 12.2 percent to a one-year low. The miner said that a subsidiary had received a U.S. Department of Justice subpoena on compliance with money-laundering laws.
Overall, the bias in prices is: Sideways.
The projected upper bound is: 4,269.44.
The projected lower bound is: 4,090.86.
The projected closing price is: 4,180.15.
A white body occurred (because prices closed higher than they opened).
During the past 10 bars, there have been 6 white candles and 4 black candles for a net of 2 white candles. During the past 50 bars, there have been 30 white candles and 20 black candles for a net of 10 white candles.
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.
One method of interpreting the Stochastic Oscillator is looking for overbought areas (above 80) and oversold areas (below 20). The Stochastic Oscillator is 39.5099. This is not an overbought or oversold reading. The last signal was a buy 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 47.01. 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 28 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 -61. This is not a topping or bottoming area. The last signal was a buy 4 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 27 period(s) ago.
Rex Takasugi – TD Profile
FTSE-A ALL SHARE closed up 22.480 at 4,177.840. Volume was 7% above average (neutral) and Bollinger Bands were 25% narrower than normal.
Open High Low Close Volume___
Short Term: Neutral
Intermediate Term: Bearish
Long Term: Bullish
Moving Averages: 10-period 50-period 200-period
Close: 4,182.31 4,205.20 4,098.85
Volatility: 19 14 12
Volume: 140,780,928 142,524,992 130,856,976
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.
FTSE-A ALL SHARE is currently 1.9% above its 200-period moving average and is in an downward 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 .FTAS at a relatively equal pace (neutral). Our trend forecasting oscillators are currently bearish on .FTAS and have had this outlook for the last 20 periods.