FAR FPO closed down -0.002 at 0.083. Volume was 59% above average (neutral) and Bollinger Bands were 1% narrower than normal.
Open High Low Close Volume___
0.085 0.085 0.082 0.083 8,473,475
Technical Outlook
Short Term: Neutral
Intermediate Term: Bearish
Long Term: Bearish
Moving Averages: 10-period 50-period 200-period
Close: 0.09 0.08 0.09
Volatility: 44 61 65
Volume: 6,272,255 5,898,542 6,750,289
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.
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Summary
FAR FPO is currently 4.3% below 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 FAR.AX at a relatively equal pace (neutral). Our trend forecasting oscillators are currently bearish on FAR.AX and have had this outlook for the last 1 periods.
Candlesticks
A black body occurred (because prices closed lower than they opened).
During the past 10 bars, there have been 3 white candles and 6 black candles for a net of 3 black candles. During the past 50 bars, there have been 19 white candles and 21 black candles for a net of 2 black candles.
Three black candles occurred in the last three days. Although these candles were not big enough to create three black crows, the steady downward pattern is bearish.
Momentum
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 28.3198. This is not an overbought or oversold reading. The last signal was a sell 13 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 46.51. 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 11 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 oversold reading. However, a signal isn’t generated until the indicator crosses above -100. The last signal was a sell 7 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 sell 5 period(s) ago.
FAR Limited (FAR) is an Australia-based exploration company. The Company is an oil and gas explorer with assets in West and East Africa. FAR has a diversified pipeline of projects that vary from entry level positions in blocks with farm-out potential to high impact drill ready projects. FAR also holds acreage surrounded by petroleum systems in Western Australia. In West Africa, FAR’s portfolio of exploration permits include offshore Senegal and Guinea-Bissau. FAR’s projects are positioned in East and West Africa, with assets in Kenya, Senegal and Guinea Bissau. FAR has approximately 60% equity position and operates block L6 and approximately 30% equity position in the L9 block. It participates in two discoveries offshore Senegal, which includes the FAN-1 and SNE-1 exploration wells. The Guinea-Bissau includes Sinapa (Block 2) and Esperanca (Blocks 4A and 5A) offshore licenses.
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