Julius Berger Plc Sentiment Analysis Report W/E 160312
Monday, March 19, 2012/ Proshare Research
JBERGERexperienced a bullish week to close with 27.3% gain against 15.7% gain recorded last trading week. The bargain drive remained strong as stock maintained maximum opening position and closed with same position throughout the week- This indicates strong positive sentiments and strong bullish run. This buttressed by MACD.
However, the RSI revealed the stock to be in overbought region buttressed by price above the upper Bollinger band. Meanwhile, the moving averages closed bearish in both short and long term as the price closed below its short and long term moving averages- this means price movement momentum is technically weak.
The volume trend revealed that more of accumulation was done in the week, though the volume trade was significantly low- this shows that majority of investors maintained hold position.
Technical conclusion on sentiments: There is strong positive sentiment towards the stock and this is likely to be sustained as most investors maintained hold positions on the stock.
The uptrend is not in doubt. Though, the stock appeared due for correction and it might retrace anytime soon, considering the overbought region as revealed by RSI and Bollinger band while the uptrend movement appeared technically weak as suggested by moving averages which closed bearish in short and long term. The chart below shows MACD, candlestick, RSI and volume.
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