Mount Gibson Iron Limited (ASX:MGX) Trading Outlook
MT GIBSON FPO closed down -0.005 at 0.205. Volume was 54% below average (consolidating) and Bollinger Bands were 113% wider than normal.
Open High Low Close Volume___
0.215 0.215 0.205 0.205 990,215
Technical Outlook
Short Term: Neutral
Intermediate Term: Bullish
Long Term: Bullish
Moving Averages: 10-period 50-period 200-period
Close: 0.22 0.19 0.20
Volatility: 87 66 66
Volume: 2,006,247 2,470,817 3,274,473
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
MT GIBSON FPO is currently 0.5% 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 moderate flows of volume into MGX.AX (mildly bullish). Our trend forecasting oscillators are currently bullish on MGX.AX and have had this outlook for the last 46 periods. our momentum oscillator has set a new 14-period low while the security price has not. This is a bearish divergence.
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 26.6667. This is not an overbought or oversold reading. The last signal was a sell 6 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 50.08. 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 7 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 -48. This is not a topping or bottoming area. The last signal was a sell 5 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 1 period(s) ago.
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