Trading: HOLD @ $4.69
Signal Strength: MEDIUM
Chorus (ASX:CNU) current accumulation has given strength to the share price and the continuation of bullish trading conditions. Currently, the ADLINE is 255640. day. During the quarter, the highest ADLINE value was 518914.
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.
Accumulation/distribution (ADLINE) is a momentum indicator that attempts to gauge supply and demand by determining whether investors are generally accumulating or buying or distributing or selling a certain stock by identifying divergences between stock price and volume flow. The accumulation/distribution is calculated by first calculating the money flow multiplier then multiplying the money flow multiplier by the period’s volume.
Calculation: Accumulation Distribution Line:
1) Money Flow Multiplier = [(close - low) - (high - close)] / (high - low);
2) Money Flow Volume = Money Flow Multiplier x volume for the period;
3) Accumulation/Distribution= previous Accumulation/Distribution + current periods Money Flow Volume.
PROFILE: Chorus (CNU.AX)
Stock Exchange: ASX
Ticker Codes: | CNU.AX | ASX:CNU |
Chorus Limited provides fixed line communications infrastructure services in New Zealand. It offers phone and broadband services over copper and fiber networks for residential and business customers; very high speed digital subscriber line broadband services for high-end residential users and small businesses; and voice-only services on its network. The company also provides top-of-the-line services for corporate customers, schools, and medical centers; products over copper and fiber for corporate and larger users; dark fiber, a basic direct fiber access service; and grey fiber, a bandwidth fiber access service. In addition, it offers fiber access connections to providers' equipment in another exchange or connects two exchanges within the same area; commercial access to its exchanges, poles, and other infrastructure; and specialist development and testing facilities to providers. The company was founded in 2008 and is based in Wellington, New Zealand.
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