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

Bluescope Steel
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Bluescope Steel: Ulcer Index 2.378 [Low Stress]
Ulcer Index /
Bluescope Steel: Ulcer Index 2.378 [Low Stress]

[BEARISH]: Bluescope Steel UIX index implies that the downside risk of the current trading price is low. Currently, the UIX is 2.378.

[Fake Day]: MFI indicator is up, volume is down BSL
Bill Williams Market Facilitation /
[Fake Day]: MFI indicator is up, volume is down BSL

Bluescope Steel Currently is a confirmed Fake Day. MFI indicator is up, volume is down for BSL. Trend continuation possible for BSL from reduced trading activity.

Sine Weighted Moving Average /
The SWMA trend following signal is still current for Bluescope Steel [Bullish]

[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 -0.1%.

Elder Ray Index /
Bluescope Steel: Elder Ray Index is 0.786 [Bullish]

[BULLISH]: Bluescope SteelElder Ray Index is signalling a Bullish movementERI is 0.786 indicating bull power. Prices are being driven above the consensus of value for BSL during the last trading session [Buying Pressure]

Money Flow Index /
The volume weighted RSI for BSL remains overbought during last trading session

[BULLISH]: Bluescope Steel current trading has maintained the money flow index oversold status and signalled the continuation of the bullish trading conditions. Currently, the MFI is 80.66. The bullish signal has been active for 0 days. During the quarter, the lowest MFI value was 25.77.

Pivot Points /
Bluescope Steel has moved above the R1 pivot point ($12.8) [Bullish]

Bluescope Steel has broken the first resistance point ($12.8) [Bullish]. Look for a long limit order entry near this point. Exit price for BSL should be set @$13.03 & Stoploss for Bluescope Steel should be set between $12.21 & $11.98

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VALUE /
The current price earnings ratio for Bluescope Steel is 10.34

Bluescope Steel Key financial metrics: (1) EPS: $1.22 (2) P/E Ratio: 10.34

Woodie pivot point for BSL is bullish. Stoploss should be positioned @$12.197
Woodie Pivot Point /
Woodie pivot point for BSL is bullish. Stoploss should be positioned @$12.197

Bluescope Steel has broken the first Woodie resistance point ($12.774) [Bullish]. Look for a long limit order entry near this point. Exit price for BSL should be set @$13.017 & Stoploss for Bluescope Steel should be set at $12.197

Momentum continues to rise for Bluescope Steel signalling an uptrend will persist
Momentum /
Momentum continues to rise for Bluescope Steel signalling an uptrend will persist

[BULLISH]: Bluescope Steel currently has positive momentum of 0.5. This means the current price is greater than the price 5 days ago and therefore gaining momentum. Currently, the return on momentum is -0.1%. The largest upward momentum rally for the last 3 months is 17 days producing a return of 12.8%%.

Relative Strength Index /
Relative Strength overbought signal had been cancelled for Bluescope Steel

[BEARISH]: Bluescope Steel is currently Overbought highlighting the potential for a short term trend reversal in the downward direction. RSI is currently overbought @80.4837

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

[BULLISH]: Bluescope Steel current accumulation has given strength to the share price and the continuation of bullish trading conditions.

Percentage Volume /
BSL: Percentage Volume Oscillator [Bearish]

[BEARISH]: Bluescope Steel currently has negative PVO -12%. The recent volume is losing momentum through a fall on the short term exponential moving average. Currently, the return on PVO is 12.1%.

High for BSL has surpassed the high of the previous trading session
High Price /
High for BSL has surpassed the high of the previous trading session

BSL: HIGH Current Signal -> (1) 20 Oct: BULLISH (2) 19 Oct: BULLISH (3) 18 Oct: BEARISH

[Long]: Exit price for BSL should be set @$12.71
Demarks Pivot Points /
[Long]: Exit price for BSL should be set @$12.71

Bluescope Steel has broken the first DeMark support point ($12.575) [Bearish]. Look for a short limit order entry near this point. Exit price for BSL should be set @$12.3 & short position stoploss for Bluescope Steel should be set at $12.71

Weighted Moving Average /
Bluescope Steel: Weighted Moving Average(5) (12.542)

[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 -0.1%.

Average True Range /
BSL: Average True Range has confirmed an uptrend @0.355

[Bullish]: Average True Range has confirmed an uptrend is present. Bluescope Steel has a TR of 0.41, and an ATR(14) of 0.355.

Long Trend /
Daily trading has maintained an Uptrend long term trend for Bluescope Steel

BSL: Long Term Trend Current Signal -> (1) 20 Oct: BULLISH (2) 19 Oct: BULLISH (3) 18 Oct: BULLISH

Bluescope Steel has broken above the 161.8% extension level ($9.78) [Bearish]
Fibonacci Extensions /
Bluescope Steel has broken above the 161.8% extension level ($9.78) [Bearish]

Bluescope Steel has moved above the 161.8% level ($9.78) [Bearish]. Look for a short limit order entry near this point. Exit price for BSL should be set @$11.21 & short position stoploss for Bluescope Steel should be set at $8.35

Bluescope Steel: MCap is $7.05B
TRADE /
Bluescope Steel: MCap is $7.05B

Bluescope Steel key financial metrics: (1) MCAP: $7.05B (2) Shares: 561111000 (3) Free Float: 556280000

Bluescope Steel: Sellers have taken control.
Open Tod Vs Close Tod /
Bluescope Steel: Sellers have taken control.

[BEARISH]: Bluescope Steel opened in the middle part of daily range at 41.5% & closed in the lower part of the trading range at 31.7%. This suggests the sellers have taken control. Over the last 12 months there has been 16 trading days with the opening price in the middle shadow & the closing the price in the lower shadow giving a confirmation ratio of 6.1%. Over the last month there has been 1 trading days with the opening price in the middle price range & the closing the price in the lower price range giving a confirmation ratio of 6.7%.

Simple Moving Average /
The SMA trend following signal is still current for Bluescope Steel [Bullish]

[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 -0.1%.

PROFIT /
The current revenue for Bluescope Steel is $10.65B

Bluescope Steel Key financial metrics: (1) Revenue: $10.65B (2) EBITDA: $1.42B (3) Price-Sales ratio: 0.66

Volume Rate of Change /
14-day volume rate of change is now increasing for Bluescope Steel

[BULLISH CROSSOVER]: Bluescope Steel currently has positive volume of change of 21%. This means the current volume is greater than the price 14 days ago and therefore gaining momentum. Currently, the return on momentum is -0.1%.

Stochastic Oscillator /
Bluescope Steel is no longer overbought [Neutral]

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

[Uptrend]: Recent trading for BSL indicates ST trend is likely to continue
Exponential Moving Average /
[Uptrend]: Recent trading for BSL indicates ST trend is likely to continue

BSL: EMA(5) Current Signal -> (1) 20 Oct: BEARISH (2) 19 Oct: BEARISH (3) 18 Oct: BEARISH

OBV: Accumulation still active for Bluescope Steel
On Balance Volume /
OBV: Accumulation still active for Bluescope Steel

[BULLISH]: Bluescope Steel current price has highlighted recent accumulation. Currently, the OBV is 858217.

Elders Force Index /
Recent trading highlights continued buying pressure is present for BSL

[BULLISH]: Bluescope Steel current price has highlighted recent buying pressure. Currently, the Elders Force Index is 410779.

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