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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[Bullish]: Elder Ray Index is 0.383 indicating bull power
Elder Ray Index /
[Bullish]: Elder Ray Index is 0.383 indicating bull power

BSL: Elder Ray Index Current Signal -> (1) 12 Dec: BULLISH (2) 11 Dec: BULLISH (3) 08 Dec: BULLISH

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

[BULLISH]: Bluescope Steel 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 -0.2%.

Triangular Moving Average /
Bluescope Steel is in a short term uptrend with the support price @$13.85

BSL: TMA Current Signal -> (1) 12 Dec: BEARISH (2) 11 Dec: BEARISH (3) 08 Dec: BEARISH

Fibonacci Fans /
[Short]: Entry price for BSL should be set @$15.89

Bluescope Steel has moved below the 61.8% retracement level ($15.89) [Bearish]. Look for a short limit order entry near this point. Exit price for BSL should be set @$12.66 & short position stoploss for Bluescope Steel should be set between $12.76

Long Trend /
Third timeframe trend of Bluescope Steel remains as an Uptrend

[BULLISH]: Bluescope Steel has a medium timeframe uptrend confirmation. This was confirmed through a price breakout on the Oct 9 2017.

On Balance Volume /
Market conditions are indicating OBV accumulation is current for BSL

[BULLISH]: Bluescope Steel current price has highlighted recent accumulation. Currently, the OBV is 1.11751e+007.

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Low Price /
Low for BSL has surpassed the low of the previous trading session

BSL: LOW Current Signal -> (1) 12 Dec: BULLISH (2) 11 Dec: BULLISH (3) 08 Dec: BULLISH

Continuation of the overbought CCI signal for Bluescope Steel
Commodity Channel Index /
Continuation of the overbought CCI signal for 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 128. BSL received a confirmed CCI crossover on the Dec 8 2017.The bearish signal has been active for 0 day. During the quarter, the highest CCI value was 217.

Ulcer index has reduced in stress level & low drawdown is expected for Bluescope Steel
Ulcer Index /
Ulcer index has reduced in stress level & low drawdown is expected for Bluescope Steel

[BEARISH]: Bluescope Steel UIX index implies that the downside risk of the current trading price is low. Currently, the UIX is 1.117.

Opening Price /
BSL opening price of $14.26 (1.1 %)

BSL: OPEN Current Signal -> (1) 12 Dec: BULLISH (2) 11 Dec: BULLISH (3) 08 Dec: BULLISH

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

[BULLISH]: Bluescope Steel currently has positive rate of change of 2.2%. This means the current price is greater than the price 14 days ago and therefore gaining momentum & is a leading indicator of price movement in the upward direction

Demarks Pivot Points /
[Long]: Entry price for BSL should be set @$14.1

Bluescope Steel has broken the first DeMark resistance point ($14.1) [Bullish]. Look for a long limit order entry near this point. Exit price for BSL should be set @$14.185 & Stoploss for Bluescope Steel should be set at $13.94

Bearish conditions for BSL have commenced based on EFI (-1840)
Elders Force Index /
Bearish conditions for BSL have commenced based on EFI (-1840)

[BEARISH]: Bluescope Steel current price has highlighted recent selling pressure. Currently, the Elders Force Index is -1840.

Bluescope Steel: Closing price $14.11 is below the Lower Envelope Band ($12.9390)
Moving Average Envelope /
Bluescope Steel: Closing price $14.11 is below the Lower Envelope Band ($12.9390)

[BULLISH]: Bluescope Steel current trading has maintained the Envelope Bands to oversold status and signalled the continuation of the bullish trading conditions. Currently, the Lower Band is 12.9390.

Ease of Movement /
Bluescope Steel was difficult to move upward due to high volume in recent trading [Bullish]

BSL: EOM Current Signal -> (1) 12 Dec: BULLISH HARD (2) 11 Dec: BULLISH HARD (3) 08 Dec: BULLISH HARD

Stochastic Oscillator /
Stochastic overbought signal has just been neutralized for Bluescope Steel

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

Momentum /
Bluescope Steel currently has positive momentum of 0.24

[BULLISH]: Bluescope Steel currently has positive momentum of 0.24. This means the current price is greater than the price 5 days ago and therefore gaining momentum. Currently, the return on momentum is -0.2%. The largest upward momentum rally for the last 3 months is 6 days producing a return of 5.3%%.

Relative Strength overbought signal had been cancelled for Bluescope Steel
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 @75.5625

Bluescope Steel: Daily volume is 2.34542e+006 [Lower Volume]
Volume /
Bluescope Steel: Daily volume is 2.34542e+006 [Lower Volume]

[BEARISH]: Bluescope Steel current volume downtrend in the first timeframe. Volume for BSL is2.34542e+006 (-20.5).

William %R for BSL has crossed below the overbought limit triggering a neutral signal
Williams %R /
William %R for BSL has crossed below the overbought limit triggering a neutral signal

BSL: William %R Current Signal -> (1) 12 Dec: BULLISH CROSSUNDER (2) 11 Dec: BEARISH CROSSOVER (3) 08 Dec: NEUTRAL

Average Directional Movement /
[Strong Trend]: Average Directional Index (28.74) strong trend has been confirmed for BSL

[Trend]: ADX for BSL has confirmed a strong trend is presentBluescope Steel has an ATR(14) of 0.344, a DX of 33.51 & an ADX(14) of 28.74

Chaikin Money Flow /
Bluescope Steel continues negative divergence & potential shift in direction

[BEARISH]: Bluescope Steel current price has highlighted recent selling pressure and the continuation of a bearish trading conditions. Currently, the CMF is -0.08. The bearish signal has been active for 1 day. During the quarter, the lowest CMF value was -0.12

Average True Range /
Bluescope Steel has signalled an ATR trend present [Downtrend]

BSL: Average True Range Recent Trading -> (1) 12 Dec: 0.344 (2) 11 Dec: 0.352 (3) 08 Dec: 0.343

Volume Rate of Change /
Volume rate of change(14) is increasing for Bluescope Steel

[BULLISH]: Bluescope Steel currently has positive volume of change of 20%. This means the current volume is greater than the price 14 days ago and therefore gaining momentum. Currently, the return on momentum is -0.2%.

Bluescope Steel has broken above the 161.8% extension level ($12.11) [Bearish]
Fibonacci Extensions /
Bluescope Steel has broken above the 161.8% extension level ($12.11) [Bearish]

Bluescope Steel has moved above the 161.8% level ($12.11) [Bearish]. Look for a short limit order entry near this point. Exit price for BSL should be set @$12.78 & short position stoploss for Bluescope Steel should be set at $11.44

Bluescope Steel is in a short term uptrend with the support price @$13.958
Simple Moving Average /
Bluescope Steel is in a short term uptrend with the support price @$13.958

[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 -0.2%.

High Price /
Recent trading for Bluescope Steel fell short of the previous high by -0.1 %

[BEARISH]: Bluescope Steel current downtrend in the first timeframe. Currently, the HIGH is -0.1 %.

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