Clean Teq Holdings (CLQ.AX)
WHITE OPENING MARUBOZU
Trading: BUY @ $0.325
Signal Strength: WEAK
Indicator MUST BE USED in additional to another technical indicator to confirmation for trading position. 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 Japanese candlestick indicator can provide guidance on the short term battle between sellers and buyers from the companies recent trading.
Clean Teq Holdings (ASX:CLQ) has formed a White Opening Marubozu candlestick. This means, CLQ has received strong buying confidence and upward price movement over the trading day with only a small upper shadow present. Given the limited timeframe in which signal has formed, further confirmation is required through volume and additional technical indicators.
This candlestick represents extreme bullishness and it is characterized with a long white body that has an upper shadow but no lower shadow.
Calculation: White Opening Marubozu Candlestick:
1) The body of the candlestick is white and long;
2) There is no lower shadow;
PROFILE: Clean Teq Holdings (CLQ.AX)
Stock Exchange: ASX
Company: Clean Teq Holdings
Ticker Codes: | CLQ.AX | ASX:CLQ |
Clean TeQ Holdings Limited, together with its subsidiaries, provides pollution control solutions in Australia. The company operates in two segments, Water and Metals. The Water segment develops and commercializes Continuous Ionic Filtration and Macroporous Polymer Adsorption resin technologies to filter, separate, purify, and recycle polluted water for drinking, agricultural, recreational, or industrial use. The Metals segment provides Clean-iX resin technology for the extraction and purification of a range of resources, including base and precious metals, as well as radioactive elements, such as uranium. This segment is also involved in the development of the Syerston project located in New South Wales. The company was founded in 1990 and is based in Notting Hill, Australia.
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