AMCORAmcor continues in a short term down trend. Some intra-day buying is coming into the stock (see last two white candles).
Technical indicators:
- MACD remains above zero - but below its signal line indicating short term weakness.
- RSI.14 is below 50. That's a negative. If this stock is to turn around shortly and end the short term weakness, I'd expect the RSI to turn upwards in the 40-50 range - where it is now
- SlowStochastic(5.5) remains in the oversold position below 20. A break above its signal line and the 20 line would suggest the stock has ended the short term down trend
Amcor may be near the end of its short term down trend. Watch carefully.
IAG
IAG is in a similar position to Amcor - in a short term down trend.
Technical Indicators:
- MACD is below its signal line but above Zero. This indicates short term weakness.
- RSI is just above 50 at (51.06). Still above the critical mid-line.
- SlowStochastic(5.5) is above 20 and above its signal line suggesting that the short term weakness may have ended.
The short term trend may have ended but the stock needs to cross above the short term down trend line and the MACD needs to turn up. Watch carefully.
SUNCORP
Suncorp like the other two stocks is in a short term down trend.
Technical Indicators:
- MACD is above Zero but below its signal line indicating a short term down trend.
- RSI now at 48 is below its mid-line.
- SlowStochastic(5.5) is above 20 and above its signal line.
The short-term trend may be ending. SUN still needs to break above its down trend line and for the MACD to turn up. Watch carefully.
Cheers
Red
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