[BEARISH]: Danakali current distribution has given weakness to the share price and the continuation of bearish trading conditions. Currently, the ADLINE is -671639. day. During the quarter, the lowest ADLINE value was -744654.
Accumulation/distribution (ADLINE) is a momentum indicator that attempts to gauge supply and demand by determining whether investors are generally accumulating or buying or distributing or selling a certain stock by identifying divergences between stock price and volume flow. The accumulation/distribution is calculated by first calculating the money flow multiplier then multiplying the money flow multiplier by the period’s volume.
Calculation: Accumulation Distribution Line:
1) Money Flow Multiplier = [(close - low) - (high - close)] / (high - low);
2) Money Flow Volume = Money Flow Multiplier x volume for the period;
3) Accumulation/Distribution= previous Accumulation/Distribution + current periods Money Flow Volume.
PROFILE: Danakali (DNK.AX)
Stock Exchange: ASX
Ticker Codes: | DNK.AX | ASX:DNK |
Danakali Limited engages in the exploration of minerals in Eritrea, East Africa. It primarily holds interests in the Colluli potash project located in the Danakil region of Eritrea. The company was formerly known as South Boulder Mines Ltd. and changed its name to Danakali Limited in June 2015. Danakali Limited is based in Subiaco, Australia.
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