Ardent Leisure (AAD.AX)
OPEN CLOSE CHANGE
Trading: SELL @ $1.55
Signal Strength: WEAK
Indicator MUST BE USED in additional to another technical indicator to confirmation for trading entry. Indicator can be applied to the short term timeframe but is only able to give and indication of the strength of the buyers versus sellers at the market close. This bar analysis can provide guidance on the daily battle between sellers and buyers from the companies recent trading.
Ardent Leisure (ASX:AAD) opened in the lower part of daily range at 30% & closed in the middle part of the trading range at 50%. This suggests the buyers have lost commitment. Over the last 12 months there has been 3 trading days with the opening price in the lower shadow & the closing the price in the middle shadow giving a confirmation ratio of 1.1%. Over the last month there has been 3 trading days with the opening price in the lower price range & the closing the price in the middle price range giving a confirmation ratio of 23.1%.
The opening and closing bar positions can add depth to assess whether buyers of sellers commitment is changing and thus which side is in control at the close of the trading session.
Calculation: Open Today Versus Close Today (OTCT):
1) If the market opens near the low and closes near the high the buyers have had control during the entire day;
2) If the market opens near the high and closes near the low the sellers have had control during the entire day;
3) If the market opens near one extreme of the range and closes near the middle of the range the side who started in control has lost commitment;
4) If the market opens near one extreme and closes near the same extreme the side who started in control has lost control;
5) If the market opens near the middle of the range and closes near one extreme control has swung to the buyers;
6) If the close is near the high and if the close is near the low the control has swung to the sellers;
7) If the market opens near the middle of the range and closes similarly neither side is strongly committed;
PROFILE: Ardent Leisure (AAD.AX)
Stock Exchange: ASX
Company: Ardent Leisure
Ticker Codes: | AAD.AX | ASX:AAD |
Ardent Leisure Group invests in and operates leisure and entertainment businesses in Australia, New Zealand, and the United States. Its US Entertainment Centres segment operates 37 entertainment centers in Texas, Arizona, Georgia, Illinois, Kentucky, Missouri, New Mexico, Ohio, Oklahoma, Kansas, Florida, Indiana, Pennsylvania, and Tennessee, United States. The company's Australian Bowling and Entertainment Centres segment operates 43 bowling centers and 5 amusement arcades in Australia; and 1 bowling center in New Zealand. Its Australian Theme Parks segment operates Dreamworld and WhiteWater World in Coomera, Queensland; and the SkyPoint observation deck and climb in Surfers Paradise, Queensland. Ardent Leisure Group is based in North Sydney, Australia.
Open vs CloseDownload
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