Bluescope Steel (BSL.AX)
Trading: SELL @ $13.05
Signal Strength: STRONG
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.
Bluescope Steel (ASX:BSL) has a current Supertrend of 14.402. This has change -0.02 points from yesterday.
The Supertrend is a trend following indicator which identifies uptrends and downtrends. The SuperTrend indicator is calculated utilising the ATR to offset the indicator from the common price. Before understanding the supertrend indicator, understanding the ATR is essential as super trend employs ATR values to calculate the indicator values. This indicator fluctuates above and below 0 signalling the current direction of the trend. This is a lagging trend indicator that assists in defining trend directions does not perform well in ranging markets.
Calculation: Supertrend (SUP) :
1) Basic Upper band = (High + Low) / 2 + Multiplier * ATR;
2) Basic Lower band = (High + Low) / 2 - Multiplier * ATR
3) Final Upper band = IF((Basic Upper band < Final Upper band(yest)) OR (Close(yest) > Previous Final Upper band(yest))) THEN (Basic Upper band) ELSE Final Upper band(yest));
4) Final Lower band = IF((Basic Lower band > Final Lowerband (yest)) OR (Close(yest) < Final Lower band(yest))) THEN (Basic Lower band) ELSE Final Lower band(yest));
5) Supertrend = IF(Close <= Final Upper band ) THEN Final Upper band ELSE Final Lower band;
Where Multiplier = 3; Period=14
PROFILE: Bluescope Steel (BSL.AX)
Stock Exchange: ASX
Company: Bluescope Steel
Ticker Codes: | BSL.AX | ASX:BSL |
BlueScope Steel Limited manufactures and sells metal coated and painted steel building products in Australia, Asia, North America, New Zealand, and internationally. The company operates in five segments: Australian Steel Products; North Star BlueScope Steel; BlueScope Buildings; Building Products ASEAN, North America and India; and New Zealand & Pacific Steel. It provides steel slabs, plates, hot and cold rolled coils, coated and painted strip products, roof and wall claddings, purlins and house framings, and engineered building solutions. The company offers steel products under the LYSAGHT, COLORBOND, COLORSTEEL, ZINCALUME, GALVABOND, GALVASPAN, BlueScope Zacs, PrimaMaju, SuperDyma, and TRUZINC brands; and engineered building solutions under the Butler, Varco Pruden, EcoBuild and PROBUILD brands. It serves the residential and non-residential building and construction, manufacturing, automotive and transport, agricultural, and mining industries. The company was formerly known as BHP Steel Limited and changed its name to BlueScope Steel Limited in November 2003. BlueScope Steel Limited was founded in 1885 and is headquartered in Melbourne, Australia.
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