RELATIVE STRENGTH INDEX
Trading: SELL @ $5.51
Signal Strength: STRONG
Indicator is best used in conjunction with additional indicators as it has the ability to highlight potential overbought or oversold levels. This indicator utilizes upper and lower bands to visually represent price extremes associated with the bands. Additional value can be added to the trading strategy by accessing divergences between price and volume.
Chorus (ASX:CNU) is currently Overbought highlighting the potential for a short term trend reversal in the downward direction.
The relative strength index (RSI) is a momentum indicator developed by noted technical analyst Welles Wilder which compares the magnitude of recent gains and losses over a specified time period to measure speed and change of price movements of a security. It is primarily used to attempt to identify overbought or oversold conditions in the trading of an asset.
Calculation: Relative Strength Index (RSI):
1) RSI = 100 - 100 / (1 + RS);
2) RS = Average Gain / Average Loss;
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.
Relative Strength IndexDownload
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