Tuesday Evening Liqueurs. 2 August, 2016.
XJO down today -0.84%:
Today's candle is a bearish engulfing candle. That's the first bearish candle in 19 trading days. That's almost a month in real time. A one day event isn't a deal breaker, but it is worth noting.
All indicators turned down on today's events.
I've marked some recent significant ranges on today's chart. (See long black arrows.) The current run-up is about par for a significant up-trend.
CCI is below the mid-line of the Bollinger Bands. I put a lot of weight on the significance of the CCI - probably more than any other indicator. It usually leads on the upside and the downside.
Short term Stochastic (14.3.5) is clearly below the long term Stochastic (50.10.10) which has also turned down. That suggests we'll see more downside.
Consumer Discretionary has been the leader in this recent rally. Today its chart is showing a three day reversal pattern.
CCI shows a negative divergence. Expect more downside.
It's always difficult to know - but this looks to me like the start of a significant pull-back.
RB.
- Forums
- ASX - By Stock
- Watermelon Wednesday
Tuesday Evening Liqueurs. 2 August, 2016. XJO down today -0.84%:...
-
- There are more pages in this discussion • 35 more messages in this thread...
You’re viewing a single post only. To view the entire thread just sign in or Join Now (FREE)
Featured News
Add XJO (ASX) to my watchlist
(20min delay)
|
|||||
Last
8,099.9 |
Change
24.200(0.30%) |
Mkt cap ! n/a |
Open | High | Low |
8,075.7 | 8,143.6 | 8,075.7 |
Featured News
XJO (ASX) Chart |
The Watchlist
LPM
LITHIUM PLUS MINERALS LTD.
Simon Kidston, Non--Executive Director
Simon Kidston
Non--Executive Director
SPONSORED BY The Market Online