Gale Pacific (GAP.AX)
Trading: SELL @ $0.335
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.
Gale Pacific (ASX:GAP) has a medium timeframe downtrend confirmation. This was confirmed through a price breakout on the Jan 10 2019.
The Tricklar medium term trend indicator (TRICK) highlights the peaks and troughs associated with a combination of bars within the first timeframe. As such, successive rallies penetrating preceding higher peaks whilst cancelling preceding low points offer a BULLISH indication in the second time frame. Conversely, failure of rallies to penetrate previous high points whilst maintaining prices below the previous low points indicates BEARISH trends in the second timeframe. The way in which multiple timeframes should be integrated in a complete analysis emphasises an important principle that applies to all technical analysis. The investor should always analyse a market from the big picture down to the level at which trading decisions are made. Trends can exist in many timeframes. Short term trends can therefore be seen together as part of a medium term trend and, in turn, medium trends can be seen together as part of a long term trend.
Calculation: Tricklar medium trend (TRICK):
1) [BULLISH] An uptrend is a succession of higher peaks and higher troughs;
2) [BEARISH] A downtrend is a succession of lower peaks and lower troughs;
PROFILE: Gale Pacific (GAP.AX)
Stock Exchange: ASX
Company: Gale Pacific
Ticker Codes: | GAP.AX | ASX:GAP |
Gale Pacific Limited, together with its subsidiaries, manufactures, markets, and distributes screening, shading, and home improvement products for domestic, commercial, and industrial applications primarily in Australasia, China, the Americas, the Middle East, North Africa, and internationally. The company offers fabrics for agricultural, architectural, industrial, horticultural, and mining applications under the GALE Pacific brand name; and outdoor leisure and garden products, such as shade fabrics, exterior window shades, gazebos, umbrellas, shade sails, synthetic grass, weed mats, and bird net products for crop protection, irrigation, water storage, and screening applications under the Coolaroo brand name. It also provides interior window furnishings under the Zone Interiors brand name. The company markets its products primarily to architectural, horticultural, agricultural, mining, construction, and home improvement sectors. Gale Pacific Limited was founded in 1951 and is based in Braeside, Australia.
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