Chorus (CNU)

Chorus (CNU.AX)

Indicator:

DAILY VOLUME INDEX

BULLISH

Chorus (ASX:CNU) current accumulation has given strength to the share price and the continuation of bullish trading conditions. Currently, the DVI is 175.

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.

The daily volume index (DVI) is the amount of individual securities traded in a day on average over a specified period of time. Trading activity relates to the liquidity of a security. When average daily trading volume is high the stock can be easily traded and has high liquidity if trading volume is not very high and the security will tend to be less expensive because people are not as willing to buy it. As a result average daily trading volume can have an effect on the price of the security.

Calculation: Daily Volume Index (DVI):
1) [Close]-[Average price] / [Average price] x [Volume];

PROFILE: Chorus (CNU.AX)

Stock Exchange: ASX
Company: Chorus
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.