Trading: SELL @ $1.005
Signal Strength: MEDIUM
Indicator can be used in isolation but is strengthened by additional indicator confirmation. Indicator can be applied to the short or medium term timeframe and is able to highlight a potential change in price direction. This bar analysis can provide guidance on the daily battle between sellers and buyers from the companies recent trading.
Cardno (ASX:CDD) A short term Close Reversal has formed with Cardno which confirms the presence of a bearish bar reversal. Over the last 12 months there have been 1 occurrences of this bar reversal giving a signal probability of 0.4%.
The close reversal maintains the trend direction where the trend strength has deteriorated. This is evident by the loss of commitment highlighted by the lower closing price.
Calculation: Close Reversal:
1) Uptrend: Open (near high) & Close (near low) & [High] > [High Yesterday] & [Low] > [Low Yesterday] & [Close] < [Close Yesterday];
2) Downtrend: Open (near low) & Close (near high) & [High] < [High Yesterday] & [Low] < [Low Yesterday] & [Close] > [Close Yesterday]
PROFILE: Cardno (CDD.AX)
Stock Exchange: ASX
Ticker Codes: | CDD.AX | ASX:CDD |
Cardno Limited, a professional infrastructure and environmental services company, engages in the development and improvement of physical and social infrastructure for communities worldwide. The company offers technical and economic feasibility services; planning services, such as statutory planning, urban development, master planning and design, mapping and surveying, and transportation planning; environmental consulting services in natural systems assessment and management, environmental impact assessment and monitoring, agricultural development, climate change management, conservation, and rehabilitation; and engineering design services for various structures, spaces, and systems. It also provides software and technology solutions that aid planning and design for engineers and planners in various industries; project management services across the project lifecycle; construction materials testing and inspection services for building, infrastructure, and mining projects; and construction management services consisting of construction and contract administration, construction and demolition, construction supervision, and subsurface utility engineering. In addition, the company offers asset management, condition assessment, facilities management, infrastructure, and software implementation services; management consulting services to public and private clients to optimize their investment in physical, economic, and social infrastructure projects; and development assistance services to enhance infrastructure, economic, health, educational, and governance situations of developing nations. It serves the building, land, coastal and ocean, environment, international development, management services, energy and resources, transportation, water, and defense market sectors. The company was founded in 1945 and is headquartered in Fortitude Valley, Australia.
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