Candlestick Daily volume index Bar reversal Edit

Backtest results

Position Trades Duration Win rate Win/loss Avg win Avg loss Return
Long 10 4.5 20% 25% 1.6% -0.8% -3.4%
Short 5 4.2 40% 67% 1.9% -3.2% -5.9%

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Trading Performance

On Balance Volume

Score

0.4

Position Trades Duration Win Rate Win/Loss Avg Win Avg Loss Return
LONG 23 22.7 0.39% 0.64% 7.2% -2.2% 33.6%
SHORT 22 11.3 0.36% 0.53% 3.6% -2.4% -8.0%

Summary

Technical Analysis

Codan (CDA.AX)


Indicator:

ON BALANCE VOLUME


Last Signal:

BULLISH


Trading: HOLD @ $3.58
Signal Strength: MEDIUM
Recommendation:

Codan (ASX:CDA) current price has highlighted recent accumulation. Currently, the OBV is 164406.


Indicator can be used in isolation or in additional to another technical indicator to confirmation for trading entry. Indicator can be applied to the short/medium term timeframe, but the best results are obtained with larger cyclical swings in-line with the trend direction. This accumulation / distribution oscillator can provide guidance on the money flow direction from the companies recent trading.


On Balance Volume (OBV) attempts to measure the level of accumulation or distribution by comparing volume to price movements. Volume is added to the indicator if closing price moves up and subtracted if closing price moves down. No adjustment is made if closing price is unchanged.

Calculation: On Balance Volume:
1) If the closing price is above the prior close price then: Current OBV = Previous OBV + Current Volume;
2) If the closing price is below the prior close price then: Current OBV = Previous OBV - Current Volume;
3) If the closing prices equals the prior close price then: Current OBV = Previous OBV (no change)


PROFILE: Codan (CDA.AX)


Stock Exchange: ASX
Company: Codan
Ticker Codes: | CDA.AX | ASX:CDA |

About Codan (ASX:CDA):

Codan Limited develops rugged and electronics solutions for government, corporate, NGO, and consumer markets in Australia. The company operates through three segments: Communications Equipment, Metal Detection, and Tracking Solutions. It designs and manufactures communications equipment for high frequency and land mobile radio applications. The company also provides recreational products, gold detectors, and detecting and clearing improvised explosive devices; and tracking, productivity, and safety solutions for underground hard-rock mines, as well as associated software for the mining sector. In addition, it provides design and product development, manufacturing, and support services to the Australian defense industry. The company also exports its products to approximately 150 countries. Codan Limited was founded in 1959 and is headquartered in Mawson Lakes, Australia.

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