Cleanaway Waste Management (CWY.AX)
Trading: HOLD @ $1.855
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.
Cleanaway Waste Management (ASX:CWY)
The Supertrend is a trend following indicator which identifies uptrends and downtrends. The SuperTrend indicator is calculated utilising the ATR to offset the indicator from the common price. Before understanding the supertrend indicator, understanding the ATR is essential as super trend employs ATR values to calculate the indicator values. This indicator fluctuates above and below 0 signalling the current direction of the trend. This is a lagging trend indicator that assists in defining trend directions does not perform well in ranging markets.
Calculation: Supertrend (SUP) :
1) Basic Upper band = (High + Low) / 2 + Multiplier * ATR;
2) Basic Lower band = (High + Low) / 2 - Multiplier * ATR
3) Final Upper band = IF((Basic Upper band < Final Upper band(yest)) OR (Close(yest) > Previous Final Upper band(yest))) THEN (Basic Upper band) ELSE Final Upper band(yest));
4) Final Lower band = IF((Basic Lower band > Final Lowerband (yest)) OR (Close(yest) < Final Lower band(yest))) THEN (Basic Lower band) ELSE Final Lower band(yest));
5) Supertrend = IF(Close <= Final Upper band ) THEN Final Upper band ELSE Final Lower band;
Where Multiplier = 3; Period=14
PROFILE: Cleanaway Waste Management (CWY.AX)
Stock Exchange: ASX
Company: Cleanaway Waste Management
Ticker Codes: | CWY.AX | ASX:CWY |
Cleanaway Waste Management Limited provides waste management, recycling, and industrial services in Australia. The company operates through two segments, Solids and Liquids & Industrial Services. The Solids segment engages in the collection, treatment, recycle, and disposal of various types of solid waste streams, including general waste, recyclables, and construction and demolition waste, as well as the provision of medical and washroom services. It owns and manages waste transfer stations, resource recovery and recycling facilities, secure product destruction, quarantine treatment operations, and landfills, as well as participates in commodities trading of recovered paper, cardboards, metals, and plastics to the domestic and international marketplace. This segment also generates and sells electricity produced utilizing landfill gas. The Liquids & Industrial Services segment engages in the collection, treatment, processing, and recycling of liquid and hazardous waste, including industrial waste, grease trap waste, and oily waters, as well as used mineral and cooking oils in packaged and bulk forms for resale, disposal, and to produce fuel oils and base oils. This segment also provides services, such as industrial cleaning, vacuum tanker loading, site remediation, sludge management, parts washing, concrete remediation, CCTV, corrosion protection, and emergency response services. The company was formerly known as Transpacific Industries Group Ltd. and changed its name to Cleanaway Waste Management Limited in February 2016. Cleanaway Waste Management Limited is headquartered in Melbourne, Australia.
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