Freedom Insurance (FIG.AX)
ON BALANCE VOLUME
Trading: SELL @ $0.022
Signal Strength: MEDIUM
Freedom Insurance (ASX:FIG) current price has highlighted recent distribution. Currently, the OBV is -1.15176e+006.
Indicator can be used in isolation or in additional to another technical indicator to confirmation for trading exit. 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: Freedom Insurance (FIG.AX)
Stock Exchange: ASX
Company: Freedom Insurance
Ticker Codes: | FIG.AX | ASX:FIG |
Freedom Insurance Group Ltd. engages in the development, distribution, and administration of risk life insurance products in Australia. It offers funeral and other final expenses, and accidental death and injury insurance products; and term life, total and permanent disability, and trauma insurance products, as well as income and mortgage protection insurance products. The company distributes its products directly to consumers through its call center, as well as through a network of financial advisers. Freedom Insurance Group Ltd. was founded in 2009 and is based in Sydney, Australia.
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