|Position||Trades||Duration||Win rate||Win/loss||Avg win||Avg loss||Return|
|Position||Trades||Duration||Win Rate||Win/Loss||Avg Win||Avg Loss||Return|
Grange Resources (GRR.AX)
COMMOIDITY CHANNEL INDEX
Trading: SELL @ $0.225
Signal Strength: MEDIUM
Grange Resources (ASX:GRR) current trading has maintained the Commodity Channel Index to overbought status and signalled the continuation of the bearish trading conditions. Currently, the CCI is -63. The bearish signal has been active for 6 days. During the quarter, the highest CCI value was 218.
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.
The Commodity Channel Index indicator takes a security’s change in price and compares that to its average change in price. CCIs calculation produces positive and negative values that oscillate above and below a Zero Line. Typically a value of 100 is identified as overbought and a reading of -100 is identified as being oversold.
Calculation: 20 Period CCI:
1) CCI = (Typical Price - 20 Period SMA of TP) / (.015 x Mean Deviation);
2) Typical Price (TP) = (High + Low + Close)/3;
PROFILE: Grange Resources (GRR.AX)
Stock Exchange: ASX
Company: Grange Resources
Ticker Codes: | GRR.AX | ASX:GRR |
Grange Resources Limited engages in the integrated iron ore mining and pellet production business in the northwest region of Tasmania. The company is involved in the mining, processing, and sale of iron ore; and exploration, evaluation, and development of mineral resources at the Southdown Magnetite and related Pellet plant projects. It owns interests in the Savage River magnetite iron ore mine located to the southwest of the city of Burnie. The company is based in Burnie, Australia.
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