Chart Snapshot for the Bendigo & Adelaide Bank July 30, 2014

Disclaimer:

This chart is information of a general nature for those with an interest in technical analysis. Do not rely on it for investment purposes without obtaining qualified professional investment advice.

Momentum

Intact mature trend

Intact mature trend

Technical observations on weekly chart with multiple moving averages.

  • Uninterrupted mature 20 month uptrend from low of $7.82 to high of $12.60
  • Momentum increasing for both traders (short-term averages) and investors (medium-term averages)

Weekly candlestick chart with suggested target based on Fibonacci retracement

  • 100% Fibonacci retracement level at $13.80.
  • RSI bordering at over-bought zone warning of possible limited retracement.
  • Entry could be possible at about $12.

 

Mature and continuing trend.

Mature and continuing trend.



Categories: Chart Analyses, Technical Analysis

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

%d bloggers like this: