PRICE RANGE CHANGE
Trading: SELL @ $1.005
Signal Strength: WEAK
Indicator MUST BE USED in additional to another technical indicator to confirmation for trading entry. 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 bar analysis can provide guidance on the daily battle between sellers and buyers from the companies recent trading.
Cardno (ASX:CDD)sellers in control. This is the first day of seller commitment for Cardno adding strength to an downtrend in the first timeframe & highlights the lack of commitment of buyers to carry positions overnight Over the last 12 months there has been 1 trading day with the closing price in the lower part of the range giving a confirmation ratio of 0.4%. Over the last month there has been 1 trading day with the closing price in the lower range giving a confirmation ratio of 20%. Currently this quarter, closing price has spent 1 day in the lower price range compared to 4 days in the upper range giving a ratio of 0.3x.
Where the closing price fall within the day’s trading range highlights whether are in control.
[Calculations] Close Today Versus Range Today (CTRT):
1) When the closing price is near the high of the day buyers were in control at the close of the trading session;
2) When the closing price is near the low of the day sellers were in control at the close of the trading session;
3) When the closing price is near the middle of the day’s range where neither the buyers or sellers were in control at the close of the trading session;
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.
Close vs RangeDownload
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