[BULLISH]: A short term Pivot Reversal has formed with Carindale Property Trust which confirms the presence of a bullish bar reversal. Over the last 12 months there have been 8 occurrences of this bar reversal giving a signal probability of 3%.
The pivot reversal is the only reversal signal that is present at all market turns. Many analysts use the pivot points as an entry or exit signal. The power of the pivot point is similar to the Island Reversal in that every trader who opened a position on the day made the extreme high or low is now losing and will scramble to get out.
[Calculation] Pivot Reversal (PIVOT):
1) Uptrend: High is higher than the high of the bars either side of its Last day closes below the low of the day with the highest high;
2) Downtrend: Low is lower than the bars either side of it Last day closes above the high of the day with the lowest low;
|Company||Close||Close Change (%)||Volume||Value||Signal|
|PLS Pilbara Minerals||1.03||4.6||4,571,651||1||BULLISH|
|CZZ Capilano Honey||16.43||3||1,984||1||BULLISH|
|PNI Pinnacle Investment Management||5.69||2.9||161,532||1||BULLISH|
|MEZ Meridian Energy||2.91||2.8||16,910||1||BULLISH|
|FGG Future Generation Global||1.42||2.5||174,093||1||BULLISH|
|BFG Bell Financial||0.94||2.2||282,969||1||BULLISH|
|ARF Arena Reit||2.2||1.9||113,892||1||BULLISH|
|QMS Qms Media||1.06||1.9||153,859||1||BULLISH|