1ST TIMEFRAME TREND
Trading: SELL @ $1.39
Signal Strength: WEAK
Indicator can be used in isolation or in additional to another technical indicator to confirmation for trading entry. This indicator has been constructed to highlight the existence of a trend for an assocaited timeframe. Trend determining indicators can be used in short, medium or long term timeframes & determines if the stock is trending or ranging. Once the trend status is quantified, this can then be coupled to additional indicators to add a significant advantage to the trading strategy.
Ausdrill (ASX:ASL) is in a downtrend in the short term timeframe. The sellers have dominated the daily trade, however further confirmation is required before taking a position
The Tricklar short term trend indicator (T1) highlights the high points and low points associated with the individual bars. As such, successive rallies penetrating preceding high points whilst cancelling preceding lower troughs offer a BULLISH indication in the second time frame. Conversely, failure of rallies to penetrate previous Lower peaks whilst maintaining prices below the previous lower troughs indicates BEARISH trends in the second timeframe.
Calculation: Tricklar short trend (T1):
1) [BULLISH] An uptrend is a succession of higher highs and higher lows;
2) [BEARISH] A downtrend is a succession of lower highs and lower lows;
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.
1st timeframe trendDownload
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