Gateway Lifestyle (GTY)

Gateway Lifestyle (GTY.AX)

Indicator:

OPEN CLOSE CHANGE

BEARISH

Indicator MUST BE USED in additional to another technical indicator to confirmation for trading entry. 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 bar analysis can provide guidance on the daily battle between sellers and buyers from the companies recent trading.

Gateway Lifestyle (ASX:GTY) opened in the lower part of daily range at 0% & closed in the lower part of the trading range at 0%. This suggests the buyers have lost control. Over the last 12 months there has been 3 trading days with the opening price in the lower shadow & the closing the price in the lower shadow giving a confirmation ratio of 1.1%. Over the last month there has been 3 trading days with the opening price in the lower price range & the closing the price in the lower price range giving a confirmation ratio of 23.1%.

The opening and closing bar positions can add depth to assess whether buyers of sellers commitment is changing and thus which side is in control at the close of the trading session.

Calculation: Open Today Versus Close Today (OTCT):
1) If the market opens near the low and closes near the high the buyers have had control during the entire day;
2) If the market opens near the high and closes near the low the sellers have had control during the entire day;
3) If the market opens near one extreme of the range and closes near the middle of the range the side who started in control has lost commitment;
4) If the market opens near one extreme and closes near the same extreme the side who started in control has lost control;
5) If the market opens near the middle of the range and closes near one extreme control has swung to the buyers;
6) If the close is near the high and if the close is near the low the control has swung to the sellers;
7) If the market opens near the middle of the range and closes similarly neither side is strongly committed;

PROFILE: Gateway Lifestyle (GTY.AX)

Stock Exchange: ASX
Company: Gateway Lifestyle
Ticker Codes: | GTY.AX | ASX:GTY |

Gateway Lifestyle Group operates in the manufactured home estates sector in Australia. It operates through two segments, Operations and Development. The company develops, sells, and leases residential communities. As of June 30, 2017, it had 56 residential land lease communities located on the Australian eastern seaboard in New South Wales, Queensland, Victoria, and the Australian Capital Territory. Gateway Lifestyle Group was founded in 2009 and is headquartered in Bella Vista, Australia.