Graincorp (GNC)

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Graincorp (GNC): Signals

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TECHNICAL ANALYSIS SUMMARY

Graincorp (GNC.AX)


Indicator:

BEAR BELT-HOLD


Last Signal:

BEARISH


Trading: SELL @ $9.14
Signal Strength: STRONG
Recommendation:

Indicator CAN BE USED in additional to another technical indicator to confirmation for trading position. 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 Japanese candlestick indicator can provide guidance on the short term battle between sellers and buyers from the companies recent trading.


Graincorp (ASX:GNC) has formed a new Bear Belt-Hold reversal pattern.



Bearish Belt Hold is a single candlestick pattern basically a Black Opening Marubozu that occurs in an uptrend. It opens on the high of the day and then prices begin to fall during the day against the overall trend of the market which eventually stops with a close near the low leaving a small shadow at the bottom of the candle. If longer bodies characterize the Belt Hold then the resistance they offer against the trend will be even much stronger.

Calculation: Bear Belt-Hold Candlestick Pattern:
1) The market is characterized by a prevailing uptrend;
2) The market gaps up and opens at its high and closes near to the low of the day;
3) A long black body that has no upper shadow (a Black Opening Marubozu) is observed;


PROFILE: Graincorp (GNC.AX)


Stock Exchange: ASX
Company: Graincorp
Ticker Codes: | GNC.AX | ASX:GNC |

About Graincorp (ASX:GNC):

GrainCorp Limited operates as a food ingredients and agribusiness company. It operates through four segments: Storage & Logistics, Marketing, Malt, and Oils. The Storage & Logistics segment receives, transports, tests, and stores grains comprising wheat, barley, canola, and sorghum, and other bulk commodities, as well as stores and exports/imports grains and other bulk commodities. The Marketing segment is involved in marketing grain and agricultural products; and the operation of grain pools. The Malt segment produces malt products; offers brewing inputs and other malting services to brewers and distillers; sells farm inputs; and exports malt. The Oils segment is involved in processing and crushing oilseeds; supplying edible oils and feeds; and operating bulk liquid port terminals, as well as the provision of storage, packaging, transportation, and logistics services. It has operations in Australia, New Zealand, Asia, North America, the United Kingdom, and Europe. GrainCorp Limited was founded in 1916 and is based in Sydney, Australia.

Top 10:

Weak Reversal

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