Ellex Medical Lasers (ELX)

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Ellex Medical Lasers (ELX): Signals

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TECHNICAL ANALYSIS SUMMARY

Ellex Medical Lasers (ELX.AX)


Indicator:

ON BALANCE VOLUME


Last Signal:

BULLISH


Trading: HOLD @ $0.69
Signal Strength: MEDIUM
Recommendation:

Ellex Medical Lasers (ASX:ELX) current price has highlighted recent accumulation. Currently, the OBV is 15748.1.


Indicator can be used in isolation or in additional to another technical indicator to confirmation for trading entry. Indicator can be applied to the short/medium term timeframe, but the best results are obtained with larger cyclical swings in-line with the trend direction. This accumulation / distribution oscillator can provide guidance on the money flow direction from the companies recent trading.


On Balance Volume (OBV) attempts to measure the level of accumulation or distribution by comparing volume to price movements. Volume is added to the indicator if closing price moves up and subtracted if closing price moves down. No adjustment is made if closing price is unchanged.

Calculation: On Balance Volume:
1) If the closing price is above the prior close price then: Current OBV = Previous OBV + Current Volume;
2) If the closing price is below the prior close price then: Current OBV = Previous OBV - Current Volume;
3) If the closing prices equals the prior close price then: Current OBV = Previous OBV (no change)


PROFILE: Ellex Medical Lasers (ELX.AX)


Stock Exchange: ASX
Company: Ellex Medical Lasers
Ticker Codes: | ELX.AX | ASX:ELX |

About Ellex Medical Lasers (ASX:ELX):

Ellex Medical Lasers Limited designs, manufactures, distributes, and sells lasers and ultrasound systems for ophthalmologists to diagnose and treat eye diseases. It offers Tango Reflex selective laser trabeculoplasty (SLT)/YAG multi-modality laser for the treatment of SLT for glaucoma, laser vitreolysis for floaters, and capsulotomy and iridotomy procedures, as well as anterior and poster YAG laser procedures; and Tango SLT/YAG combination laser for the treatment of SLT and YAG, as well as capsulotomy procedures. The company also provides iTRACK, a microcatheter for use in the minimally invasive glaucoma surgeries; Ultra Q Reflex, a YAG laser for the treatment of vitreous strands and opacities; and Ultra Q for the treatment of capsulotomy and iridotomy procedures.. In addition, it offers Integre Pro Scan, a multi-color pattern scanning photocoagulator; Integre Pro, a multi-color laser for use in the treatment of retinal disease; and Solitaire, a portable green laser for the treatment of retinal disease. Further, the company provides Eye One, a portable ultrasound platform for examination and measurement applications; and Eye Cubed, a diagnostic ultrasound system for posterior and anterior segments. Additionally, it offers a 2RT, a retinal rejuvenation therapy for the treatment of age-related macular degeneration. The company also distributes medical devices. It operates in Australia, the United States, Europe, the Middle East, Japan, Asia, South America, and internationally. Ellex Medical Lasers Limited is headquartered in Mawson Lakes, Australia.

Top 10:

On Balance Volume

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