Trading: BUY @ $1.365
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.
Ausdrill (ASX:ASL) is currently Oversold highlighting the potential for a short term trend reversal in the upward 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: Ausdrill (ASL.AX)
Stock Exchange: ASX
Ticker Codes: | ASL.AX | ASX:ASL |
Ausdrill Limited operates as an integrated mining and energy services company worldwide. It operates through Drilling Services Australia, Equipment Services and Supplies, Contract Mining Services Africa, and All Other segments. The company is involved in the reverse circulation, diamond drilling, rotary air blast, and air core drilling; geochemical and precious metals analysis; production and monitoring of bores, as well as depressurization and dewatering, and surface hole drilling; and procurement and supply of exploration equipment, parts, and consumables. It also engages in the drill and blast, and grade control drilling; earthmoving equipment rental business; mine development and civil works; grade control; manufacture and supply of blast holes and RC hammers, bits, drill rods, spares, and equipment; manufacture of bulk explosives; and provision of blasting services. In addition, the company is involved in the clearing, pre-strip, access, and haul road construction, excavation, loading, hauling, dumping, and equipment hire; underground mining; design, manufacture, and maintenance of blast hole, RC and diamond drill rigs, and support and ancillary equipment; and sale and rental of pressure, flow, and well control equipment for the oil and gas industry. Further, it engages in drilling and servicing oil and gas wells; and design, drilling, installation, testing, and commissioning of telecom and underground power networks. Ausdrill Limited was founded in 1987 and is based in Canning Vale, Australia.
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