Beacon Lighting (BLX.AX)
BLACK SPINNING TOP
Trading: NO POSITION @ $1.35
Signal Strength: WEAK
Indicator MUST BE USED in additional to another technical indicator to confirmation for trading position. Indicator can be applied to the short term timeframe but is only able to give and indication of the strength of the buyers versus sellers at the market close. This Japanese candlestick indicator can provide guidance on the short term battle between sellers and buyers from the companies recent trading.
Beacon Lighting (ASX:BLX) has formed a Black Spinning Top candlestick. This means, BLX has opened and closed within a small range with a upper and lower shadow that is longer than the body of the candle. This has similar traits to that of a doji candle highlighting the supply and demand indecision Given the limited timeframe in which signal has formed, further confirmation is required through volume and additional technical indicators.
This candlestick has a tiny black body with upper and lower shadows that have a greater length than the body. It is accepted as a type of Doji and will act as a Doji when it appears.
Calculation: Black Spinning Top Candlestick:
1) The body of the candlestick is black and very small;
2) The upper and lower shadows are longer than the body;
PROFILE: Beacon Lighting (BLX.AX)
Stock Exchange: ASX
Company: Beacon Lighting
Ticker Codes: | BLX.AX | ASX:BLX |
Beacon Lighting Group Limited operates as a specialist retailer of lighting products in Australia. It designs, develops, sources, imports, distributes, merchandises, promotes, and sells light fittings and light globes. The company's products include pendants, table lamps, floor lamps, ceiling fans, chandeliers, exteriors, globes, down lights, wall lights, spotlights, bathroom lighting products, batten fixes, flush mounts, accessories, and solar panels. It serves middle to upper residential lighting market. The company operates a network of 100 company operated stores and 6 franchised stores, as well as 4 commercial sales offices. It also offers its products online. Beacon Lighting Group Limited was founded in 1967 and is based in Mulgrave, Australia.
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