Cooper Energy (COE.AX)
PRICE RANGE CHANGE
Trading: BUY @ $0.515
Signal Strength: WEAK
Indicator MUST BE USED in additional to another technical indicator to confirmation for trading entry. 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 bar analysis can provide guidance on the daily battle between sellers and buyers from the companies recent trading.
Cooper Energy (ASX:COE) buyers are in control at the market close. This is the first day of buyer commitment for Cooper Energy adding strength to an uptrend in the first timeframe & highlights the commitment of buyers to carry positions overnight. Over the last 12 months there has been 4 trading days with the closing price in the upper part of the range giving a confirmation ratio of 1.5%. Over the last month there has been 4 trading days with the closing price in the upper range giving a confirmation ratio of 25%. Currently this quarter, closing price has spent 4 days in the upper price range compared to 3 days in the lower range giving a ratio of 1.3x.
Where the closing price fall within the day’s trading range highlights whether are in control.
[Calculations] Close Today Versus Range Today (CTRT):
1) When the closing price is near the high of the day buyers were in control at the close of the trading session;
2) When the closing price is near the low of the day sellers were in control at the close of the trading session;
3) When the closing price is near the middle of the day’s range where neither the buyers or sellers were in control at the close of the trading session;
PROFILE: Cooper Energy (COE.AX)
Stock Exchange: ASX
Company: Cooper Energy
Ticker Codes: | COE.AX | ASX:COE |
Cooper Energy Limited, a petroleum exploration and production company, finds, develops, and sells oil and gas properties. The company holds interests in petroleum exploration and production tenements in the Cooper, Otway, and Gippsland basins in Australia. As of June 30, 2017, it had proved and probable reserves of approximately 11.7 million barrels of oil equivalent. Cooper Energy Limited is headquartered in Adelaide, Australia.
Close vs RangeDownload
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