PRICE RANGE CHANGE
Trading: SELL @ $0.93
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.
Decmil (ASX:DCG)sellers in control. This is the first day of seller commitment for Decmil adding strength to an downtrend in the first timeframe & highlights the lack of commitment of buyers to carry positions overnight Over the last 12 months there has been 2 trading days with the closing price in the lower part of the range giving a confirmation ratio of 0.8%. Over the last month there has been 2 trading days with the closing price in the lower range giving a confirmation ratio of 12.5%. Currently this quarter, closing price has spent 2 days in the lower price range compared to 2 days in the upper range giving a ratio of 1x.
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: Decmil (DCG.AX)
Stock Exchange: ASX
Ticker Codes: | DCG.AX | ASX:DCG |
Decmil Group Limited, through its subsidiaries, provides design, engineering, and construction works for natural resources, government, and infrastructure sectors in Australia and internationally. It operates through three segments: Construction and Engineering, Accommodation, and Other. The company engages in the civil works, including site preparation, excavation, and bulk earthworks on brown and greenfield projects in regional and remote areas; construction of remote non-process infrastructure, such as industrial buildings, processing plants, workshops, and storage facilities; and design and construction of permanent and temporary accommodation consisting of villages for the resource sector. It is also involved in government infrastructure projects, such as accommodation, immigration facilities, corrections facilities, office buildings, defense facilities, schools, administration buildings, and storage facilities; road and bridge civil engineering projects; and design and construction of fuel infrastructure facilities. In addition, the company provides coal seam gas and LNG wellhead installation with related pipelines and facilities; civil works for remote wind and solar projects, including site preparation, foundations, and pilings; structural and mechanical installations, such as towers for wind farms and framing systems, and PV modules for solar projects; specialist electrical work for energy storage and distribution; and design, installation, commissioning, and maintenance services to telecommunications network owners, manufacturers, and NBN service providers. Further, it fabricates and installs high pressure pipes, vessels, and tanks. Decmil Group Limited was founded in 1979 and is headquartered in Osborne Park, Australia.
Close vs RangeDownload
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