Clearview Wealth (CVW.AX)
OPEN CLOSE CHANGE
Trading: BUY @ $0.905
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.
Clearview Wealth (ASX:CVW) opened in the upper part of daily range at 100% & closed in the upper part of the trading range at 100%. This suggests the sellers have lost control. Over the last 12 months there has been 1 trading days with the opening price in the upper shadow & the closing the price in the upper shadow giving a confirmation ratio of 0.4%. Over the last month there has been 1 trading days with the opening price in the upper price range & the closing the price in the upper price range giving a confirmation ratio of 8.3%.
The opening and closing bar positions can add depth to assess whether buyers of sellers commitment is changing and thus which side is in control at the close of the trading session.
Calculation: Open Today Versus Close Today (OTCT):
1) If the market opens near the low and closes near the high the buyers have had control during the entire day;
2) If the market opens near the high and closes near the low the sellers have had control during the entire day;
3) If the market opens near one extreme of the range and closes near the middle of the range the side who started in control has lost commitment;
4) If the market opens near one extreme and closes near the same extreme the side who started in control has lost control;
5) If the market opens near the middle of the range and closes near one extreme control has swung to the buyers;
6) If the close is near the high and if the close is near the low the control has swung to the sellers;
7) If the market opens near the middle of the range and closes similarly neither side is strongly committed;
PROFILE: Clearview Wealth (CVW.AX)
Stock Exchange: ASX
Company: Clearview Wealth
Ticker Codes: | CVW.AX | ASX:CVW |
ClearView Wealth Limited provides life insurance, wealth management, and financial advisory solutions in Australia. Its Life Insurance segment provides life insurance products, including term life, permanent disability, trauma and critical illness benefits, parent cover, child cover, accident covers, income protection, and business expense covers through financial advisers, third parties, and external advisers; and non-advice life protection products, such as term life, accidental death, injury covers, trauma and critical illness, and funeral insurance through direct marketing, telemarketing, call center referrals or online. The company's Wealth Management segment offers life investment contracts, including ordinary savings, superannuation, and allocated pension products; superannuation and retirement income wraps, and investor directed portfolio service wraps; and managed investment schemes. Its Financial Advice segment provides financial advisory and dealer group services to self-employed financial advisers. ClearView Wealth Limited was founded in 1976 and is headquartered in Sydney, Australia.
Open vs CloseDownload
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