Trading: SELL @ $27.36
Signal Strength: STRONG
Indicator can be used in isolation or in additional to another technical indicator to confirmation for trading entry. This indicator has been constructed to highlight the existence of a trend for an assocaited timeframe. Trend determining indicators can be used in short, medium or long term timeframes & determines if the stock is trending or ranging. Once the trend status is quantified, this can then be coupled to additional indicators to add a significant advantage to the trading strategy.
Caltex (ASX:CTX) has a medium timeframe downtrend confirmation. This was confirmed through a price breakout on the Apr 15 2019.
The Tricklar medium term trend indicator (TRICK) highlights the peaks and troughs associated with a combination of bars within the first timeframe. As such, successive rallies penetrating preceding higher peaks whilst cancelling preceding low points offer a BULLISH indication in the second time frame. Conversely, failure of rallies to penetrate previous high points whilst maintaining prices below the previous low points indicates BEARISH trends in the second timeframe. The way in which multiple timeframes should be integrated in a complete analysis emphasises an important principle that applies to all technical analysis. The investor should always analyse a market from the big picture down to the level at which trading decisions are made. Trends can exist in many timeframes. Short term trends can therefore be seen together as part of a medium term trend and, in turn, medium trends can be seen together as part of a long term trend.
Calculation: Tricklar medium trend (TRICK):
1) [BULLISH] An uptrend is a succession of higher peaks and higher troughs;
2) [BEARISH] A downtrend is a succession of lower peaks and lower troughs;
PROFILE: Caltex (CTX.AX)
Stock Exchange: ASX
Ticker Codes: | CTX.AX | ASX:CTX |
Caltex Australia Limited engages in purchasing, refining, distributing, and selling petroleum products in Australia, New Zealand, and Singapore. It operates through Supply and Marketing, and Lytton segments. The Supply and Marketing segment sells fuels, lubricants, specialty products, and convenience store goods through a network of Caltex, Caltex Woolworths, and Ampol branded service stations, as well as through company owned and non-equity resellers, and direct sales to corporate customers. This segment distributes its products through pipelines, terminals, depots, and owned and contracted transportation fleet. The Lytton segment refines crude oil into petrol, diesel, greases, and jet fuel, as well as various specialty products, including liquid petroleum gas. Caltex Australia Limited was founded in 1900 and is headquartered in Sydney, Australia.
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