Trading: SELL @ $3.96
Signal Strength: STRONG
Indicator is best used in conjunction with additional indicators as it has the ability to highlight potential overbought or oversold levels. This indicator utilizes upper and lower bands to visually represent price extremes associated with the bands. Additional value can be added to the trading strategy by accessing divergences between price and volume.
Scentre (ASX:SCG) is currently Overbought highlighting the potential for a short term trend reversal in the downward direction.
In technical analysis of securities trading the stochastic oscillator is a momentum indicator that uses support and resistance levels. Dr George Lane developed this indicator in the late 1950s. The term stochastic refers to the point of a current price in relation to its price range over a period of time. This method attempts to predict price turning points by comparing the closing price of a security to its price range.
Calculation: Stochastic Oscillator:
1) %K = (Current Close - Lowest Low)/(Highest High - Lowest Low) * 100;
2) %D = 3-day SMA of %K Lowest Low = lowest low for the look-back period Highest High = highest high for the look-back period %K is multiplied by 100 to move the decimal point two places;
PROFILE: Scentre (SCG.AX)
Stock Exchange: ASX
Ticker Codes: | SCG.AX | ASX:SCG |
Scentre Group owns and operates the pre-eminent shopping centre portfolio in Australia and New Zealand with retail real estate assets under management valued at $51 billion and shopping centre ownership interests valued at $36.2 billion. This comprises 39 Westfield shopping centres which have strong franchise value and the ability to attract the world's leading retail brands. Scentre Group's strategy is to own interests in the highest quality regional shopping centres in its markets and to invest in these assets through redevelopment opportunities, ensuring that the Group's shopping centres enrich communities by providing extraordinary retail spaces. Many shopping centres in the portfolio are owned in partnership with leading property investment institutions. Westfield shopping centres are an essential part of the community's social and economic fabric and in 2017 more than 530 million customers visits were made across Australia and New Zealand.
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