Trading: BUY @ $0.46
Signal Strength: STRONG
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.
Getswift (ASX:GSW) has formed a new Bull Belt-Hold reversal pattern.
Bullish Belt Hold is a single candlestick pattern basically a White Opening Marubozu that occurs in a downtrend. It opens on the low of the day and then a rally begins during the day against the overall trend of the market which eventually stops with a close near the high leaving a small shadow on top of the candle. If longer bodies characterize the Belt Hold then the resistance they offer against the trend will be even much stronger.
Calculation: Bull Belt-Hold Candlestick Pattern:
1) The market is characterized by a prevailing downtrend;
2) The market gaps down and opens at its low and closes near to the high of the day;
3) A long white body that has no lower shadow (a White Opening Marubozu) is observed;
PROFILE: Getswift (GSW.AX)
Stock Exchange: ASX
Ticker Codes: | GSW.AX | ASX:GSW |
Getswift Limited, a technology company, provides secure cloud-based SaaS platform for delivery businesses in Australia and internationally. It offers logistics software. The company was founded in 2015 and is based in Carlton, Australia.
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