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By HEFFX Australia on October 24, 2017No Comment
chart shows extraordinary price action to the upside.
By the way, prices are vulnerable to a correction towards 0.55.
The projected upper bound is: 0.96.
The projected lower bound is: 0.56.
The projected closing price is: 0.76.
Candlesticks
A big black candle occurred. This is bearish, as prices closed significantly lower than they opened. If the candle appears when prices are “high,” it may be the first sign of a top. If it occurs when prices are confronting an overhead resistance area (e.g., a moving average, trendline, or price resistance level), the long black candle adds credibility to the resistance. Similarly, if the candle appears as prices break below a support area, the long black candle confirms the failure of the support area.
During the past 10 bars, there have been 5 white candles and 4 black candles for a net of 1 white candles. During the past 50 bars, there have been 15 white candles and 28 black candles for a net of 13 black candles.
Momentum Indicators
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 74.2187. This is not an overbought or oversold reading. The last signal was a sell 0 period(s) ago.
The RSI shows overbought (above 70) and oversold (below 30) areas. The current value of the RSI is 66.15. This is not a topping or bottoming area. However, the RSI just crossed below 70 from a topping formation. This is a bearish sign. A buy or sell signal is generated when the RSI moves out of an overbought/oversold area. The last signal was a sell 0 period(s) ago.
The CCI shows overbought (above 100) and oversold (below -100) areas. The current value of the CCI is 178.This is an overbought reading. However, a signal isn’t generated until the indicator crosses below 100. The last signal was a buy 14 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 9 period(s) ago.
Rex Takasugi – TD Profile
BUBS AUSTRALIA closed down -0.080 at 0.755. Volume was 138% above average (neutral) and Bollinger Bands were 50% wider than normal.
Open High Low Close Volume___
0.855 0.890 0.740 0.755 21,987,532
Technical Outlook
Short Term: Overbought
Intermediate Term: Bullish
Long Term: Bullish
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
BUBS AUSTRALIA is currently 147.7% above its 200-period moving average and is in an upward trend. Volatility is extremely high when compared to the average volatility over the last 10 periods. There is a good possibility that volatility will decrease and prices will stabilize in the near term. Our volume indicators reflect very strong flows of volume into BUB.AX (bullish). Our trend forecasting oscillators are currently bullish on BUB.AX and have had this outlook for the last 6 periods.
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