PRICE RANGE CHANGE
Trading: SELL @ $2.43
Signal Strength: WEAK
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.
Healthscope (ASX:HSO)sellers in control. There has been 2 consecutive days of prices closing in the lower part of the trading range for Healthscope adding strength to an downtrend in the first timeframe & highlights the lack of commitment of buyers to carry positions overnight Over the last 12 months there has been 4 trading days with the closing price in the lower part of the range giving a confirmation ratio of 1.5%. Over the last month there has been 4 trading days with the closing price in the lower range giving a confirmation ratio of 23.5%. Currently this quarter, closing price has spent 4 days in the lower price range compared to 1 days in the upper range giving a ratio of 4x.
Where the closing price fall within the day’s trading range highlights whether are in control.
[Calculations] Close Today Versus Range Today (CTRT):
1) When the closing price is near the high of the day buyers were in control at the close of the trading session;
2) When the closing price is near the low of the day sellers were in control at the close of the trading session;
3) When the closing price is near the middle of the day’s range where neither the buyers or sellers were in control at the close of the trading session;
PROFILE: Healthscope (HSO.AX)
Stock Exchange: ASX
Ticker Codes: | HSO.AX | ASX:HSO |
Healthscope Limited provides healthcare services in Australia, New Zealand, Malaysia, Singapore, and Vietnam. The company operates through Hospitals Australia, Pathology New Zealand, and Other segments. It operates 45 private hospitals, which include 32 acute hospitals, 7 mental health hospitals, and 6 rehabilitation hospitals with approximately 5,000 inpatient beds. The company also provides human pathology, and veterinary and analytical pathology services under the Labtests, Southern Community Laboratories, Northland Pathology, Gribbles, Gribbles Pathology, and Quest Laboratories brands. In addition, it operates 43 medical centers, 4 specialist skin clinics, and 1 specialist breast diagnostic clinic. The company was formerly known as Healthscope Hospitals Holdings Pty. Ltd. and changed its name to Healthscope Limited in July 2014. Healthscope Limited was founded in 1985 and is based in Melbourne, Australia.
Close vs RangeDownload
|AXP Airxpanders Inc||0.03||6.5||1,583,952||-1||BEARISH|
|BRN Brainchip Holdings||0.06||0||328,354||-1||BEARISH|
|IDX Integral Diagnostics||2.56||0||5,146||-1||BEARISH|
|AAC Australian Agricultural||0.95||-0.5||1,564,666||-1||BEARISH|
|AFI Australian Foundation||5.92||-0.7||702,904||-1||BEARISH|
|AUI Australian United Investment||8.45||-0.7||14,564||-1||BEARISH|
|AUB Austbrokers Holdings||13.13||-0.8||101,718||-1||BEARISH|