[BEARISH WEAK]: Broo opened in the upper part of daily range at 100% & closed in the middle part of the trading range at 50%. This suggests the sellers have lost commitment. Over the last 12 months there has been 18 trading days with the opening price in the upper shadow & the closing the price in the middle shadow giving a confirmation ratio of 6.8%. Over the last month there has been 1 trading days with the opening price in the upper price range & the closing the price in the middle price range giving a confirmation ratio of 9.1%.
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: Broo (BEE.AX)
Stock Exchange: ASX
Ticker Codes: | BEE.AX | ASX:BEE |
Broo Limited produces and distributes beer in Australia and China. It operates through Hospitality, Australian brewing, and Chinese brewing segments. The company offers beers under the Broo Premium Lager and Australia Draught names. It serves hotels, liquor stores, restaurants, and other licensed premises through wholesalers. The company also manages pubs and boutique brewery venues. Broo Limited is headquartered in Mildura, Australia.
|Company||Close||Close Change (%)||Volume||Value||Signal|
|SAS Sky And Space Global||0.06||1.6||749,231||1||BEARISH|
|CAB Cabcharge Australia||2.33||0.9||54,357||-1||BEARISH|
|VRT Virtus Health||5.5||0.7||60,851||-1||BEARISH|
|CCL Coca-Cola Amatil||9.48||0.4||1,663,962||1||BEARISH|
|LEP Ale Property||5.3||0.4||33,396||1||BEARISH|
|KDR Kidman Resources||1.19||0.4||3,891,499||1||BEARISH|