Trading: HOLD @ $1.27
Signal Strength: MEDIUM
Autosports (ASX:ASG) current accumulation has given strength to the share price and the continuation of bullish trading conditions. Currently, the ADLINE is 16508.3. day. During the quarter, the highest ADLINE value was 23514.9.
Indicator can be used in isolation or in additional to another technical indicator to confirmation for trading entry. Indicator can be applied to the short/medium term timeframe, but the best results are obtained with larger cyclical swings in-line with the trend direction. This accumulation / distribution oscillator can provide guidance on the money flow direction from the companies recent trading.
Accumulation/distribution (ADLINE) is a momentum indicator that attempts to gauge supply and demand by determining whether investors are generally accumulating or buying or distributing or selling a certain stock by identifying divergences between stock price and volume flow. The accumulation/distribution is calculated by first calculating the money flow multiplier then multiplying the money flow multiplier by the period’s volume.
Calculation: Accumulation Distribution Line:
1) Money Flow Multiplier = [(close - low) - (high - close)] / (high - low);
2) Money Flow Volume = Money Flow Multiplier x volume for the period;
3) Accumulation/Distribution= previous Accumulation/Distribution + current periods Money Flow Volume.
PROFILE: Autosports (ASG.AX)
Stock Exchange: ASX
Ticker Codes: | ASG.AX | ASX:ASG |
Autosports Group Limited operates as a vehicle dealer in Australia. The company engages in the sale of new and used motor vehicles; distribution of finance and insurance products; sale of aftermarket products and spare parts; and provision of motor vehicle servicing and collision repair services. Autosports Group Limited was founded in 2016 and is based in Leichhardt, Australia.
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