[BEARISH]: Bellamys Australia sellers in control. There has been 5 consecutive days of prices closing in the lower part of the trading range for Bellamys Australia adding strength to an downtrend in the first timeframe & highlights the lack of commitment of buyers to carry positions overnight Over the last 12 months there has been 90 trading days with the closing price in the lower part of the range giving a confirmation ratio of 34.2%. Over the last month there has been 13 trading days with the closing price in the lower range giving a confirmation ratio of 86.7%. Currently this quarter, closing price has spent 13 days in the lower price range compared to 2 days in the upper range giving a ratio of 6.5x.
Where the closing price fall within the day’s trading range highlights whether are in control.
[Calculations] Close Today Versus Range Today (CTRT):
1) When the closing price is near the high of the day buyers were in control at the close of the trading session;
2) When the closing price is near the low of the day sellers were in control at the close of the trading session;
3) When the closing price is near the middle of the day’s range where neither the buyers or sellers were in control at the close of the trading session;
Close Today Versus Range TodayDownload
|Company||Close||Close Change (%)||Volume||Value||Signal|
|MGC Mg Unit Trust||0.33||4.8||615,817||-1||BEARISH|
|MDC Mcconnell Dowell Corporation||0.5||4.2||117,111||-1||BEARISH|
|TWE Treasury Wine Estates||18.62||3.6||1,613,130||-1||BEARISH|
|CGL The Citadel||7.09||3.5||48,790||-1||BEARISH|
|INM Iron Mountain||47.86||3||95,565||-1||BEARISH|
|EOS Electro Optic Systems Holdings||2.88||2.9||17,061||-1||BEARISH|
|MEZ Meridian Energy||2.91||2.8||16,910||-1||BEARISH|