Technical analysis from Bluescope Steel (BSL.AX.AX, ASX:BSL.AX) on the Australian Stock Exchange (ASX). Download the latest price data & trading signals

Bluescope Steel
+ Share

Market conditions are indicating distribution is current for BSL
Accumulation / Distribution /
Market conditions are indicating distribution is current for BSL

[BEARISH]: Bluescope Steel current distribution has given weakness to the share price and the continuation of bearish trading conditions. Currently, the ADLINE is -8.91728e+006. day.

Closing price for BSL has crossed above the upper envelope triggering a bearish crossover signal
Moving Average Envelope /
Closing price for BSL has crossed above the upper envelope triggering a bearish crossover signal

[BEARISH CROSSOVER]: Bluescope Steel current price has driven Envelope Bands to become overbought signalling the start of bearish trading conditions. Currently, the Upper Band is 16.3485.

Closing Price /
Bluescope Steel: Daily closing price is $16.66 [Bullish]

[BULLISH]: Bluescope Steel current uptrend in the first timeframe. Currently, the Close is $16.66.

Sine Weighted Moving Average /
Sine Weighted Moving Average(5) signal continues for Bluescope Steel indicating upward price movement is likely

[BULLISH]: Bluescope Steel currently has a confirmed uptrend. Recent trading has caused the SWMA 5 day average to exceed the closing price confirming the short term trend following indicator. Currently, the return on SWMA5 is 2.9%.

Coles Reaction Day /
Daily trading produced a rally day for Bluescope Steel

Bluescope Steel: Coles Rally Day has been confirmed A higher high has been achieved for last trading day for BSL

Ease of Movement /
Price was easily moved upward in recent trading on low volume causing an uptrend in price for BSL

BSL: EOM Current Signal -> (1) 19 Apr: BULLISH EASY (2) 18 Apr: BULLISH HARD (3) 17 Apr: BEARISH HARD

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Detrended Price Oscillator /
[Uptrend]: Price for Bluescope Steel is currently above the displaced moving average

[BULLISH]: Bluescope Steel currently has a confirmed uptrend. Price is currently above the displaced moving average for BSLCurrently, the return on DPO20 is 2.9%.

Bluescope Steel: Range Performance (-59)
Range Tod Vs Range Yest /
Bluescope Steel: Range Performance (-59)

BSL: Range today versus range yesterday Recent Trading -> (1) 19 Apr: -59% (2) 18 Apr: 38.6% (3) 17 Apr: 95.6%

A short term Gap Up has formed with Bluescope Steel
Gap Up /
A short term Gap Up has formed with Bluescope Steel

[BEARISH]: A short term Gap Up has formed with Bluescope Steel which confirms the presence of a bearish bar reversal. Over the last 12 months there have been 14 occurrences of this bar reversal giving a signal probability of 5.3%.

Close Tod Vs Close Yest /
The biggest upward movement for Bluescope Steel this month has been 4.1

[BULLISH]: Bluescope Steelbuyers are keener than sellers and are driving the price up. There has been 2 consecutive days of price rise for BSL adding strength to an uptrend in the first timeframe. The biggest upward movement this month has been 4.1 & the greatest daily positive change this year has been 4.4. The longest consecutive upswing rally over the last 12 months has been 6 days giving a total rally upward movement of 9.5%. This quarter, the largest upswing rally has been 6 days giving a total rally upward movement of 8.4%. The win ratio for price rise in the first timeframe for the last 12 months is 0.5x giving a total win/loss ratio of 1.2x. Over the last month the average daily upward movement has been 1.8%

Ulcer Index /
[Low Stress]: Low drawdown associated with recent trading of BSL

[BEARISH]: Bluescope Steel UIX index implies that the downside risk of the current trading price is low. Currently, the UIX is 3.645.

Volume /
BSL has achieved a lower volume of 2.32782e+006 (-35.2)

BSL: VOLUME Recent Trading -> (1) 19 Apr: 2.32782e+006 (2) 18 Apr: 3.59051e+006 (3) 17 Apr: 1.63764e+006

Open/close reversal confirmed for Bluescope Steel signalling the buyers were in control all day.
Open Tod Vs Close Tod /
Open/close reversal confirmed for Bluescope Steel signalling the buyers were in control all day.

[BULLISH STRONG]: Bluescope Steel opened in the lower part of daily range at 8% & closed in the upper part of the trading range at 72%. This suggests the buyers were in control all day. Over the last 12 months there has been 47 trading days with the opening price in the lower shadow & the closing the price in the upper shadow giving a confirmation ratio of 17.9%. Over the last month there has been 1 trading days with the opening price in the lower price range & the closing the price in the upper price range giving a confirmation ratio of 7.1%.

Bluescope Steel currently has positive rate of change for 10.404
Rate of Change /
Bluescope Steel currently has positive rate of change for 10.404

BSL: ROC Recent Trading -> (1) 19 Apr: 10.404 (2) 18 Apr: 7.29 (3) 17 Apr: 3.598

Short Trend /
Bluescope Steel: Daily Uptrend remains intact

[BULLISH]: Bluescope Steel is in an uptrend in the short term timeframe. The buyers have dominated the daily trade, however further confirmation is required before taking a position.

Percentage Price /
Price percentage oscillator has positive momentum signalling a continuation of the upward price rise for BSL

[BULLISH]: Bluescope Steel currently has positive PPO 1.300%. This means the current price is gaining momentum through a rise on the short term exponential moving average.

Percentage Volume /
Volume for Bluescope Steel continues to lose momentum @-4.2)

[BEARISH]: Bluescope Steel currently has negative PVO -4.2%. The recent volume is losing momentum through a fall on the short term exponential moving average. Currently, the return on PVO is 10.7%.

Stoploss for Bluescope Steel should be set between $16.373 & $16.266
Pivot Points /
Stoploss for Bluescope Steel should be set between $16.373 & $16.266

Bluescope Steel has broken the first resistance point ($16.766) [Bullish]. Look for a long limit order entry near this point. Exit price for BSL should be set @$16.873 & Stoploss for Bluescope Steel should be set between $16.373 & $16.266

Bluescope Steel is now overbought with the Relative Strength Index @73.0006
Relative Strength Index /
Bluescope Steel is now overbought with the Relative Strength Index @73.0006

[BEARISH]: Bluescope Steel is currently Overbought highlighting the potential for a short term trend reversal in the downward direction. RSI is currently overbought @73.0006

Price continues to trade above the Weighted Moving Average(5) for BSL
Weighted Moving Average /
Price continues to trade above the Weighted Moving Average(5) for BSL

[BULLISH]: Bluescope Steel currently has a confirmed uptrend. Recent trading has caused the WMA 5 day average to exceed the closing price confirming the short term trend following indicator. Currently, the return on WMA5 is 2.9%.

Low Price /
Bluescope Steel: Daily low price is $16.48 [Lower Low]

[BEARISH]: Bluescope Steel current uptrend in the first timeframe. Currently, the Low is $16.48 (5.7000000000000000 %).

Simple Moving Average /
Simple Moving Average(5) signal continues for Bluescope Steel indicating upward price movement is likely

[BEARISH]: Bluescope Steel currently has a confirmed downtrend. Recent trading has caused the SMA 5 day average to move below the closing price confirming the short term trend following indicator. Currently, the return on SMA5 is 2.9%.

Williams %R /
William %R overbought signal has just been neutralized for Bluescope Steel

[BULLISH]: Bluescope Steel is currently Oversold highlighting the potential for a short term trend reversal in the upward direction.

Commodity Channel Index /
Potential CCI trend reversal has been identified with Bluescope Steel

[BEARISH]: Bluescope Steel current trading has maintained the Commodity Channel Index to overbought status and signalled the continuation of the bearish trading conditions. Currently, the CCI is 202. The bearish signal has been active for 0 day. During the quarter, the highest CCI value was 202.

BSL Basic Candle: White
White Candle /
BSL Basic Candle: White

[BULLISH]: Bluescope Steel has formed a White candlestick. Normal buying pressure highlighting buyers were in control.

[Long]: Exit price for BSL should be set @$16.883
Woodie Pivot Point /
[Long]: Exit price for BSL should be set @$16.883

Bluescope Steel has broken the first Woodie resistance point ($16.786) [Bullish]. Look for a long limit order entry near this point. Exit price for BSL should be set @$16.883 & Stoploss for Bluescope Steel should be set at $16.383

Daily Volume Index /
Accumulation DVI signal for Bluescope Steel is now confirmed

[BEARISH CROSSOVER]: Bluescope Steel current price has highlighted the commencement of distribution and the start of bearish trading conditions. Currently, the DVI is -775.

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