Bellamys (Bal) :
Australian shares weakened on Tuesday, with the ASX's heavy exposure to banks and commodity firms underscored by a pullback in both sectors, while infant formula company Bellamy's bucked the lower trend with a 24 per cent surge.
We believe the ASX200 will reach that level no later than April 2018." Miners pulled back after iron ore futures fell 2 per cent the previous day when data indicated there are record stockpiles of imported iron ore at Chinese ports.
Technical Analysis Summary: 25 Jan
- Bellamys Australia has broken the first DeMark resistance point ($15. 5325) [Bullish]. Look for a long limit order entry near this point. Exit price for BAL should be set @$15. 755 & Stoploss for Bellamys Australia should be set at $15. 055
- BAL: PPO Recent Trading -> (1) 25 Jan: 10. 082 (2) 24 Jan: 9. 764 (3) 25 Jan: -0. 163
- [BULLISH]: Bellamys AustraliaElder Ray Index is signalling a Bullish movementERI is 2. 124 indicating bull power. Prices are being driven above the consensus of value for BAL during the last trading session [Buying Pressure]
- [Bullish]: Average True Range has confirmed an uptrend is present. Bellamys Australia has a TR of 0. 72, and an ATR(14) of 0. 588.
- [BULLISH CROSSOVER]: International Goldfields currently has positive momentum of 0. 02. This means the current price is greater than the price 5 days ago and therefore gaining momentum. Currently, the return on momentum is 2%. The largest upward momentum rally for the last 3 months is 12 days producing a return of 3. 5%%.
- [BULLISH]: Bellamys Australia currently has positive volume of change of 111%. This means the current volume is greater than the price 14 days ago and therefore gaining momentum. Currently, the return on momentum is -3. 3%.
- [BULLISH]: Bellamys Australia current trading has maintained the money flow index oversold status and signalled the continuation of the bullish trading conditions. Currently, the MFI is 82. 58. The bullish signal has been active for 0 days. During the quarter, the lowest MFI value was 16. 88.
- [BULLISH]: Bellamys Australia currently has a confirmed uptrend. Recent trading has caused the EMA 5 day average to exceed the closing price confirming the short term trend following indicator. Currently, the return on EMA5 is -3. 3%.
- [BEARISH]: Bellamys Australia current uptrend in the first timeframe. Currently, the Low is $15. 31 (2. 1 %).
- [BEARISH]: Bellamys Australia has formed a Short Black candlestick. This means, BAL has limited price movement derived from weak selling pressure. Given the limited timeframe in which signal has formed, further confirmation is required through volume and additional technical indicators.
- BAL: Price Range Current Signal -> (1) 25 Jan: BEARISH (2) 24 Jan: BULLISH (3) 23 Jan: BULLISH
- [BEARISH]: Bellamys Australia current volume downtrend in the first timeframe. Volume for BAL is568822 (-29. 8).
Comments have been disabled for this post