Trading: SELL @ $4.49
Signal Strength: MEDIUM
Chorus (ASX:CNU) current distribution has given weakness to the share price and the continuation of bearish trading conditions. Currently, the ADLINE is -90346.7. day. During the quarter, the lowest ADLINE value was -126958.
Indicator can be used in isolation or in additional to another technical indicator to confirmation for trading exit. 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.
|BRN Brainchip Holdings||0.1||7.8||700,368||-559,546.9||BEARISH|
|SXY Senex Energy||0.33||4.8||7,225,917||-732,646.7||BEARISH|
|GCY Gascoyne Resources||0.16||3.2||691,862||-641,828.7||BEARISH|
|MNS Milnes Holdings||0.33||3.1||252,239||-69,985.3||BEARISH|
|VAH Virgin Australia Holdings||0.18||2.9||325,294||-289,022.3||BEARISH|